Researchers at the Health Protection Agency (HPA) estimated the effects of vaccinating under-twos, under-fives and under-16s against the disease.
A programme vaccinating everyone under the age of 16 would reduce the incidence of influenza A and B by 90%, the HPA found.
Immunising those between six months and two years would reduce flu in the population by between 11% and 35%, while immunising all those under five would reduce flu in the population by between 38% and 69%.
The Department of Health's Joint Committee on Vaccination and Immunisation decided in 2005 that more work was needed before flu immunisation in children could be considered.
A DH spokesperson said: 'As with all areas of vaccination and immunisation, the JCVI continuously reviews the available scientific evidence to ensure that there is a firm basis for its advice.
'If new evidence becomes available, it will be considered. The Committee has obviously not yet had time to look at this report.