The 34-year-old celebrated 11 years as Liverpool captain earlier this week, and has led the Reds to a Champions League, an FA Cup and a League Cup since taking over the armband from Sami Hyypia in 2003.
Redknapp played alongside Gerrard for a while at Anfield and the former England midfielder has said that he is among the best players to have been born in Britain.
"Steven Gerrard marked 11 years as Liverpool captain this week – and, for me, he's one of the great British players of all time," Redknapp told Sky Sports News.
"He's been an incredible captain and leader. He's not the most demonstrative or the biggest talker in the world and at times he looks like he's got the weight of the world on his shoulders ,but he's one of the best players I've ever played with and I enjoy watching him, the goals he's scored and the big moments he's created.
"He's been a very special footballer in the Premier League and will go down as one of the greats."
Gerrard will lead Liverpool out against Queens Park Rangers, who are managed by Jamie's father Harry Redknapp - in a 1.30pm kickoff on Sunday, which you can follow live on Sports Mole from 12.30pm.