The Gunners head into the game five points behind the high-flying Foxes in the table and know that a victory would move them to within two points of top spot ahead of the final 12 matches of the season.
It will be a really good game with plenty of goals
Leicester have been made the favourites to win the Premier League title this season after their stunning 3-1 win at Manchester City last weekend.
Arsenal, meanwhile, have struggled to find consistent form in the top flight since the turn of the year and have only won one of their last four Premier League games.
However, the north London side were 5-2 winners at the King Power Stadium earlier in the season, and former Liverpool man Redknapp is tipping the Gunners to edge to victory on Sunday.
Redknapp told Sky Sports: “Arsenal are favourites in my opinion, because of what they did earlier in the season. They won 5-2 at Leicester thanks to some great pace on the break and a hat-trick from Alexis Sanchez, who was dynamite that day.
“However, they’ll have to start quickly on Sunday. Man City were shocking against Leicester last week but, crucially, they didn’t get going. City couldn’t get out of their box in the first few minutes and then conceded the all-important first goal.
“If Arsenal concede the first goal, Leicester will sit back and wait for them and then pounce.
“To break Leicester down, Arsenal will need to move the ball quickly. They’ll have an extra man in midfield, so should have passing options, but whenever Mesut Ozil picks the ball up he’ll be aware [N’Golo] Kante and [Danny] Drinkwater will be breathing down his neck. They’ll need to move it rapidly and precisely.
“I’m predicting a narrow Arsenal win – but it will be a really good game with plenty of goals.”
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