Yes — acetaminophen (Tylenol) is generally considered compatible with prednisone and isn't listed as interacting with it, but stay within Tylenol's label dosing limits and check with your pharmacist, especially if you have liver problems or drink alcohol.
Acetaminophen and prednisone (a corticosteroid) are not known to interact, and clinicians commonly suggest acetaminophen as the pain reliever to use while on a steroid. The major drug-information sources back this up by what they flag and what they don't: MedlinePlus's prednisone page does not list acetaminophen as an interactor, but it does flag aspirin and advises telling your doctor and pharmacist about every prescription and over-the-counter medicine you take. The NHS prednisolone guidance (prednisolone is the closely related steroid) similarly singles out the anti-inflammatory painkillers — it warns to check that ibuprofen and aspirin are safe before taking them with the steroid, and does not raise the same flag for paracetamol/acetaminophen. The painkillers that carry caution with steroids are the NSAIDs (ibuprofen, aspirin, naproxen): combining an NSAID with a steroid raises the risk of stomach ulcers and bleeding, which is why acetaminophen is generally the safer analgesic choice while on prednisone. Note: none of these sources state a specific reason acetaminophen is "complementary," and the NHS pages do not discuss acetaminophen by name — the support here is that it is absent from their interaction warnings, not an explicit endorsement.
Stay within acetaminophen's daily limit — follow the product label (US labels commonly cap adult use around 3,000–4,000 mg/day from all sources combined) and don't double up, because many cold/flu remedies already contain acetaminophen. Because acetaminophen can harm the liver, use a lower limit and ask a clinician if you drink alcohol regularly or have liver disease. Avoid pairing prednisone with NSAIDs (ibuprofen, aspirin, naproxen) unless a doctor specifically directs it, due to the added stomach-ulcer and bleeding risk; the NHS advises checking that ibuprofen and aspirin are safe before combining them with the steroid, and to take prednisolone with food to reduce stomach problems. Get urgent medical help for warning signs of GI bleeding — severe stomach pain, vomiting blood, or red or black stools. Tell your doctor and pharmacist about every prescription, OTC, and herbal product you take, and confirm any new medicine is safe with prednisone before starting it.
This is general reference, not medical advice, and not a guarantee of safety. Interactions depend on your doses, health conditions, and other medicines. Always confirm with your pharmacist or doctor before combining products, and follow the dosing on each label.