It has long been debated as to whether Lampard and Gerrard can operate as a playing partnership, with the general theory suggesting that they are too similar in style to prove effective.
Gerrard, 30, has been a star player for England in the recent Euro 2012 qualifiers against Bulgaria and Switzerland when Lampard was absent through injury.
The convincing displays of the Three Lions in Lampard's absence have been offered as evidence to permanently drop the 32-year-old.
But Tottenham boss Redknapp, who is thought to be a candidate for the England manager's job when Fabio Capello steps down after Euro 2012, said in the Daily Express: "I can't see that. I think he's a must to play for England.
"He's 20-goals-a-year. He scores goals for England and even in the World Cup. If Frank's goal against Germany had been given, who knows what could have happened?"
Redknapp, who is Lampard's uncle, added: "I think Frank is top drawer. I'd have him in any England team. And I don't say that because he's a relation.
"People change their mind from one week to the next. One week, you can be the greatest, next week, you are useless, whether you're a manager or a player.
"I would have Frank and Gerrard in my team every day of the week."