The Gunners are four points behind Premier League leaders Liverpool after Sunday's 2-0 victory at West Ham and Walcott added: "The title will go down to the wire and there are going to be a few teams in the race. No game is easy because every team in the Premier League is difficult now, it is so competitive."
For Tottenham, captain Ledley King has refused to rule himself out of tomorrow's match, which would be his third appearance in a week despite concerns over his knee injury.
Redknapp's predecessor, Juande Ramos, had insisted that the 28-year-old defender could only manage one full game every two or three weeks.
King also hinted that Redknapp's arrival would add intensity to the competition for starting places within the squad.
He said: "The players have to start again and everyone has to perform and that's when you get the best out of players."
Fellow centre-back Jonathan Woodgate hopes to recover from the groin injury he sustained in the UEFA Cup defeat by Udinese last week — and that kept him out of the home win over Bolton.
Redknapp is also seeking to strengthen his backroom staff having already recruited Kevin Bond as a coach and confirmed Clive Allen as reserve team boss.
He wants to bring in former Spurs and England midfielder Tim Sherwood, who said today he is undecided about whether to quit his job as a TV pundit with Setanta.
Sherwood said: "It's very flattering. If I ever wanted to get back into football the club I would choose would be Tottenham and the manager I would work with would be Harry Redknapp.
"It is the biggest club I ever played for but I owe it to Harry to want to give it one million per cent of my time."