The Northern Irishman, 42, stepped down on Thursday having led the club to three Scottish Premiership titles during his four-year spell in charge.
His former team-mate Larsson immediately became one of the front runners for the post.
Speaking to Sky Sports and STV at Glasgow airport before jetting out to Lisbon for the Champions League final with the Lisbon Lions, who won the European Cup for Celtic in the city in 1967, Lennon was asked if the former Sweden striker, now manager of Falkenbergs in his homeland, was ready to step into his shoes.
He said: "You will need to ask Henrik that but if he does I am sure he will be a huge success. Why not?
"He's had a fabulous career as a player, he is a very intelligent guy and knows the game very well."
Hakan Nilsson, sporting director of Falkenbergs, told Press Association Sport: " There has not been any contact between us and Celtic and there has not been any enquiry whatsoever from Celtic."
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- Scottish Premiership
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