Reds winger Raheem Sterling has shelved negotiations with the club until the summer after turning down a £100,000-a-week deal.
While Anfield vice-captain Henderson, whose deal expires after next season, has snubbed a reported £80,000-a-week extension.
But Redknapp believes the England pair should take whatever is offered to them by the Merseysiders.
"I don't know who they are listening to but Liverpool is one of the great clubs in world football," the former Tottenham and QPR boss told talkSPORT.
Keep playing your football and thank your lucky stars you are at a club like Liverpool
Harry Redknapp
"The atmosphere at Anfield, there is nowhere else like it. It is a great club.
"They should be thanking their lucky stars they are at such a fantastic football club.
"Sterling has been offered 100 grand a week - it is a fantastic offer.
"That is probably more than the three kids who were in the England squad last week from Tottenham are earning combined. Kane, Townsend, Mason, the three of them wouldn't be earning anywhere near that between them.
GETTY
Harry Redknapp urges Raheem Sterling and Jordan Henderson to sign new deals at Liverpool
"It is a great offer - get on and play your football. He will get his 200 grand a week or whatever he is chasing in a few years. Henderson is the same.
"Henderson has done well but he has still got a long way to go to be one of the all-time Liverpool greats. He is nowhere near that at the moment.
"He looks a great lad, a good player, but get on with your football and keep progressing.
"Keep playing your football and thank your lucky stars you are at a club like Liverpool."
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