Wembley hosted the first meeting between the two countries for almost 14 years as Roy Hodgson's side were 3-2 winners despite a spirited display from the visitors.
Until 1989 the fixture had been an annual event, and Law, the former Manchester United and Scotland striker, thinks it should return to the football calendar permanently.
"There is nothing in football like a Scotland game against England, it's to be treasured and maintained on a more regular basis," he told the Daily Record.
"As an occasion, I loved it. I would be delighted if the fixture was back on the calendar as Wednesday night showed everyone both sides of the border just how much we've missed it.
"The atmosphere inside and outside the ground was something to treasure and hopefully both teams will see sense of making it an annual game.
"I was invited along to Wembley and saw first-hand just how much the English loved it."
A debut goal from Rickie Lambert proved to be the difference between the sides, but Law says it was a great occasion regardless of the result.
He added: "There was banter from start to finish and even the booing of the English national anthem had a good-natured feel to it - but mainly only just.
"It was a fantastic game watched by millions across the world and a great advert for everything football should be about. The passion, pride and colour was clear for all to see."