Redknapp pinpointed the Manchester United midfielder as a potential key player for England's Euro 2012 campaign in Poland and Ukraine, with the Tottenham manager becoming the increasingly likely choice to replace Fabio Capello.
Scholes, who last played for England in 2004, retired from football altogether at the end of last season, and Redknapp believes his return to the international stage would be just as successful as his club comeback.
"Age does not matter," Redknapp said. "Look at Paul Scholes. Let's be honest, you would love to have him at the European Championships. He's that good. He plays like the Spaniards, like Xavi, or [Andres] Iniesta - he does not give the ball away."
Redknapp also stated his admiration for other veteran England midfielders Frank Lampard, Steven Gerrard and Scott Parker, with the Spurs boss indicating the latter pair would be his preference to succeed John Terry as national team skipper.
"Frank is still a top player," said Redknapp. "You write him off at your peril. Stevie Gerrard is still a top class player. We have got some good men in our midfield. You need characters like that in your side if you are going to win anything. And that's what players like Scott Parker are as well.
"Parker could be a good England captain. But there are some outstanding candidates for that job. Gerrard is a good candidate. There are one or two who could do it. But Scottie could do it for sure. I bent over backwards to get him here this summer."