The veteran opener also declared Bulls captain Marnus Labuschagne should be recalled at No.3 for Australia, where he has been prolific at Test level and also at the start of this summer's domestic season.
""Queensland ... one, two and three would be great," Khawaja said ahead of the Sheffield Shield clash with NSW that starts on Tuesday at the Gabba.
"I think our best lineup has Marnus three, (Steve) Smith four and (Travis) Head five."
There are a suite of candidates in the mix to partner Khawaja in the first Test in Perth next month. Renshaw, 29, has scored a recent Shield century and made three impressive cameos for Australia this month in ODI cricket.
Renshaw has been through highs and lows in his 14 Tests but Khawaja said his time was now.
"I know if Renshaw is picked that he is in the best space right now to have a crack at Australia again and be ready to score runs," Khawaja said.
"Obviously I am a little bit biased because he is my opening partner and a friend of mine, but he's been there and done it. He has scored 184 for Australia.
"He has been in and out of the Australian team and it allows you to grow, as I know from experience.
"It allows you to learn from experiences when you get the opportunity again. Whenever Rennie gets his chance ... I know he will be ready.
"He hasn't done himself any harm with the way he has played in the last three matches in the one-dayers. He has taken the pressure on really well and looked the part, which he always does whenever he goes to the next level. You feel like he is one guy that really belongs at the next level."
Renshaw is in the best mental space in his career after he stopped obsessing over commentary about his performances and over-thinking his path to the top.
" It doesn't surprise me that he's deleted the CA app and is not looking at the paper. That is straight out of the Khawaja manual," Khawaja said.
" I haven't done it for six years now and I am glad he has gone the same way. I was the same. I was worried about everyone else but then I started worrying about myself and enjoying life for what it is and started playing a lot better."
Renshaw has credited Khawaja for his mentorship.
"He literally copies everything I do," Khawaja grinned.
"He wears DSC (cricket clothing), wears Nike shoes and even lives five minutes from my house. He's a 'mini-Uz'."
Khawaja said Labuschagne belonged in the Australian team and had found a mental balance that had fired his four centuries already this summer in Shield and One-Day Cup formats.
"Our best side has Marnus in it. He brings a lot of energy, so hopefully he will be back," Khawaja said.
"He is hitting less balls (in training) than he ever has. He is not hitting balls before the game in the morning. He was usually in there for an hour but he is giving his brain a bit more of a rest.
"He always works hard but now he is choosing when he works hard. He is growing and understanding he doesn't need to hit four million balls to be ready. It's just finding a balance."
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