Liverpool captain Steven Gerrard and Manchester City veteran Frank Lampard, who is a Chelsea legend following his years at Stamford Bridge, are two of England's best-ever midfielders according to Cole.
The 33-year old has been a club and country teammate of both players during his career and was full of praise for the duo who are set to leave the Premier League for MLS in the summer.
"I think they stand above anyone. I was a central midfielder and having two of the greatest England central midfielders in my era is great in some respects, but not others," he said.
"I'm proud that I played with them really because they are top, top players. They are both thoroughbreds - unbelievable.
"Stevie gets a lot of the praise he richly deserves, but for some reason I don't think people put Frank in quite the same bracket. Frank is every bit as good.
"Ask me honestly who is better and I couldn't tell you. I didn't see Bobby Charlton but for me certainly from the 80s, early 90s no-one comes near them."