Roy Hodgson's men will face Ukraine in Donetsk tomorrow knowing a passionate home crowd will help turn up the heat on their bid to knock-out the co-hosts.
But, with the Three Lions requiring just one point to make the last eight, former England star Steven has no doubt the return of Rooney after a two-game ban –combined with the confidence boost after Friday's 3-2 victory over Sweden – will help England through.
Steven said: "I was impressed with the performances of Danny Welbeck and Andy Carroll against the Swedes. Both took their goals well.
"But Rooney is pivotal to England and he supplies that something extra in the final third.
"A draw against Ukraine would be enough to put England through, but I think with the attacking quality we now have, we can beat Ukraine."
On the down side, Theo Walcott is a doubt for the Ukraine game having pulled out of training yesterday following "a tightness in a hamstring".
Stevens added: "You would have to fancy France to take a few off Sweden, who are out. That will put them out of sight as group winners, but for me it is important we qualify with momentum behind us, and that means getting the win.
"It is going to be tough with the home crowd against us, but if we can tighten up a bit at the back and avoid losing possession as cheaply as we did at times against the Swedes, we have the firepower to win and Rooney is a massive part of that."
However, Steven admitted qualification for the last eight was the best England can expect in the tournament.
He said: "If England can get to the quarters, you are talking a one-off game and they have a chance, but I think that will be the peak of their achievement.
"In the first instance, they have the co-hosts on their turf to get past and that will be a big ask.
"Ukraine are an excellent technical team and more than capable of beating England.
"As I said, defensively, England must improve for the Ukraine game and if they do that, with Rooney back, they can do it."
Elsewhere, England boss Hodgson said the wave passion generated by the home crowd in Donetsk will make it a big challenge for England to qualify.
He said: "Ukraine will be a tough nut to crack. All hosts are. I managed Switzerland against hosts United States at World Cup 94 – it wasn't easy.
"The passionate crowd could push Ukraine to heights they might not ordinarily achieve. But I'm happy going into the final group game knowing a draw or win will see us through.
"Our goal is making certain we continue doing what we've done in the four matches I've been in charge."
Ukraine striker Andriy Shevchenko is doubtful due to a knee problem.