Player power has worked against a succession of Chelsea bosses, but Redknapp, 72, believes Lampard's legendary status and inside knowledge of how the club works would give him an edge.
Redknapp told The Sun: “He will have real authority. He won't stand any nonsense.
“Eden Hazard has left and he was a fantastic player. No disrespect to any of the rest of them who are left but none of them can look at Frank and think, 'I'm a bigger, better player'.
“He's been a better player for Chelsea than any of them have been. That's not a bad starting point for him. There won't be anyone there he can't handle."
He added: “It could be a fresh new Chelsea. We could see some real young stars emerging.
“When I think of Chelsea, I think back to the days of Alan Hudson, Peter Osgood, Peter Houseman — people coming through the system, great young players.
“Maybe now these kids are going to get the chance.
“They have an incredible academy, producing all these great kids but sending them out on loan and not playing in the first team.
“It could be dawning of a bright new era for Chelsea."