While he penned new terms with Real in September, Benzema has been a constant subject of transfer speculation as he has battled to win over home fans and members of the board.
However, Karembeu believes Real fans should hold his fellow Frenchman in higher esteem given his big match temperament.
"Benzema is a big striker for Real Madrid. He is always there when we need him," declared the former Real midfielder.
Benzema is expected to start tonight's Champions League clash at PSG.