Chelsea confirmed the much-anticipated departure of Conte on Friday with Maurizio Sarri expected to replace the Italian.
Conte can leave with his head held high having won the Premier League and FA Cup in his two seasons in charge at Stamford Bridge.
Though it was widely expected that he would depart following frustrations with the board over transfer dealings.
But former Liverpool defender Carragher believes England will miss Conte, though he also feels Chelsea will still be strong.
“Losing Antonio Conte is a big blow for the Premier League,” Carragher told Sky Sports News.
“I think he’s been brilliant. He changed to three at the back at Chelsea and it seemed like the whole country changed to it – even England did.
“He’s had a major impact in English football. To come in and win the league then the FA Cup in your first two years is some achievement.
“You always think with Chelsea: ‘how can they lose this top manager and bring another one in’ but they’ve always done it and carried on being successful. It’s the Roman Abramovich way.
“It will be tough to replicate what Conte did as the competition is so fierce with Manchester City pushing on.”
Chelsea have already identified transfer targets and are in talks with Juventus over central defender Daniele Rugani having made a bid of £30m.
The Blues also hope to sign CSKA Moscow midfielder Aleksandr Golovin and Roma goalkeeper Alisson Becker.