Redknapp and Fulham boss Roy Hodgson are among the people being linked with the job as Liverpool manager.
Fowler said: “You want someone who has done well in the Prem and knows how it works so, as a top man, why not Harry Redknapp?
“He’s done a fantastic job with Spurs and he would be a very good manager for Liverpool. He’s done fantastically well at all the clubs he’s been at.”
He added: “Liverpool are a massive club. OK, they have under-achieved in the last few years but, in terms of world football, there are not that many bigger clubs.
“If any manager comes in, he’ll need money but how much I don’t know. Redknapp is well known for astute signings.”