Redknapp, who played for the Reds from 1991 to 2001, believes that the 30-goal Uruguayan has been the Premier League's outstanding player this season.
Speaking to Sky Sports News, the former midfielder said: "If anyone doesn't vote for him [for the PFA award], I'd have to question who they've been watching because it's been a brilliant individual performance from him this season.
"I couldn't say he'd never do anything rash again because he plays more on the edge than anyone I've ever seen but this year his performances and conduct have been exemplary.
"There's nothing to say that in a couple of weeks' time Suarez won't announce: 'I've done my bit, I'm off', but not only is he perfect for Liverpool and idolised there, but crucially the club can fulfil his ambitions too - they'll be in the Champions League next season and potentially as Premier League title-holders."
Liverpool are currently five points clear at the top of the table, and know seven points from their last three games will see them crowned as champions for the first time since 1990.