The former Liverpool man says the youngster is the perfect replacement if Sterling does leave Anfield this summer.
England international winger Sterling is yet to sign a new deal at the club despite months of contract talks, with it now expected that he will tell the Reds that he wants to leave Anfield in the summer, as per a report on BBC Sport.
That has sparked a number of rumours about where he may end up, and who his current side would buy to replace him, but Aldridge says the Reds already have a ready-made replacement in Ibe.
“It’s a very tough dilemma. What’s best for the club?,” he said.
“It’s not ideal with Steven Gerrard leaving at the same time but if we get £40m we’ve got an ideal replacement for Raheem’s position in Jordon Ibe. It’s a hard one for the manager, for Ian Ayre and for John Henry.”
Despite saying he would sell Sterling if the player is determined to leave the club, Aldridge does maintain that Liverpool is still the best place for his development at this moment in time.
It is under the guidance of current manager Brendan Rodgers that the youngster has developed at a rapid pace, with increased game time at Anfield having had a positive impact on his progression.
And although Aldridge is keen for him to stay, he admits that seems unlikely. He has, however, pointed out that, if the youngster can can endear himself to the fans, then there would be no need for him to move on.
“He’s got to work hard to get there, he’s got the right manager in Brendan Rodgers and he’s going to get lots of games,” he added.
“I want him to be at Liverpool for the rest of his career. If he can endear himself to the fans again then there’s no reason for him to leave Liverpool. From where we are I’d be surprised if he stayed but I’d love to be proved wrong.”