Campbell, who is a free agent after leaving Notts County after just one game, has been linked with a move to United, due to the clubs defensive injury-crisis.
“Sol Campbell can do at the back what Henrik Larsson did up front for Manchester United two years ago,” Redknapp told The Sun.
“Campbell can prove, as Swedish star Larsson did, that he still has the quality to play at the very highest level and I’m not surprised at the reports tipping him for a Premier League return.
“Not too many people took to the idea of striker Larsson doing a more than decent job for Alex Ferguson back in January 2007 when he was plucked from Swedish part-timers Helsingborgs.
“Sir Alex needed a temporary fix for his squad when he was struggling with injuries to strikers Alan Smith and Ole Gunnar Solskjaer.
“It worked out brilliantly as Larsson scored on his debut against Aston Villa in the FA Cup and then against Watford in the league during his three-month stay.
“United went on to win the Premier League title that season, two months after Larsson went home to Sweden with Sir Alex full of praise for the way he handled himself.
“As a measure of Larsson’s contribution, even though he did not play the 10 games needed to gain a champion’s medal, United asked for and were granted an extra gong to pass on to him.
“With United now having problems with the fitness of key defenders like Jonny Evans, Rio Ferdinand and John O’Shea, it has a familiar ring about the Larsson situation to it.
“Sol can still do a job for anyone and probably the biggest mistake he has made in recent years was moving to Notts County. But one of the hardest things in football is trying to play alongside players who are not on the same level.
“That is the situation Campbell found himself in and while I don’t know if he will go to Old Trafford, or if Sir Alex is interested, it would make sense.
“Larsson was successfully persuaded to come out of retirement and Sol – at 35 a couple of years younger – would also be one of those ‘golden oldies’.
“You never know, Sol could be getting another title medal of his long career when they are handed out in May.”