The 22-year-old moved ahead in the race for the Premier League Golden Boot with a brace at the weekend, taking his tally for the season to 21 and making him only the fifth Englishman in history to score 20 or more goals in consecutive Premier League seasons.
"Harry Kane is potentially one of the best English strikers we have ever seen," he told talkSPORT.
"At such a young age, he shows great maturity in his performances, continues to work tremendously hard and his finishing seems natural on both feet.
"He seems to always have time in the box, which is a great trait, but he also takes things early. He also has the ability to link play."
Murphy also believes that Kane should be one of the first names on the teamsheet for Roy Hodgson at Euro 2016 this summer.
"Is [Wayne] Rooney fit or not? Is [Daniel] Sturridge going to be scoring from now until the end of the season? Will [Jamie] Vardy get his goalscoring boots back on? Harry Kane has to start for me - 100% he has to start. It will take a brave man to put an argument together to say he shouldn't," he added.
Kane earlier today spoke of his desire to challenge Shearer's all-time Premier League goalscoring record.