The Anfield hero has admitted that he would welcome the opportunity to manage the Merseyside club one day.
The veteran midfielder is set to leave the Merseyside club in the summer and join MLS outfit LA Galaxy, drawing to a close a career with his boyhood club.
Gerrard has admitted this week that parting company with the club will be emotional - but has stated that he could return to Anfield in the future.
When quizzed about the potential for becoming Liverpool’s manager in the future, Gerrard admitted that he had thought about the possibility.
"Being the manager of this club is probably one of hardest jobs in the world. First and foremost you have to be good enough, got to be prepared for it and got to be offered it.
"A lot of things would have to happen from now until then so we will have to wait and see. But it is something I have thought about so maybe one day."
Gerrard will leave the club following an underwhelming and trophy less campaign, with the possibility for an FA Cup final botched due to semi-final defeat to Aston Villa.
The veteran played a key role in the Reds lifting the Champions League trophy in 2005, but leaves the club without ever being crowned an English champion.
Gerrard’s final game for the club will come against Stoke at the Britannia Stadium on the last day of the season.