The Spain striker's £50 million move to Stamford Bridge has not gone to plan and the Anfield skipper says his former team-mate is struggling due to a lack of love from the Blues
The 28-year-old Spain international was inspirational for the Reds after moving from Atletico Madrid in 2007, scoring 65 goals in 102 league games before Roman Abramovich bought him in January of the 2011-12 season.
However, the move has been a near-nightmare for both club and player, and his former team-mate and Anfield skipper believes the forward would have stayed with Liverpool if he had the chance to turn back the clock.
"I think now if [Torres is] honest, yeah, he probably regrets going, because he was flying at Liverpool," he told Sky Sports.
"He was probably one of the best players in the world on current form when he was at our place.
"I think he's shown signs this year that he's got the form back, but I think everyone talking about him and the £50m price tag - it's a lot of pressure on the shoulders every single week."
When pressed as to why he thought Torres had been unable to replicate his Liverpool form at Chelsea, Gerrard suggested it may be due being simply another player among a squad of stars rather than the focal point of the team as he was on Merseyside.
"I'm not sure gets the love at Chelsea that he got at Liverpool," he added. "He was the top man at our place, we used to love having him about. I was heartbroken when he left.
"The whole team and the whole setup was for Fernando Torres to play well and for him to win us football matches and I'm not sure he gets that treatment at Chelsea.
"I think he's one of a number of quality players, and I think he thrives on confidence. As you could see at Liverpool, every single week he was flying."
Gerrard does not believe that the injuries Torres suffered towards the end of his time at Liverpool have slowed him down but did acknowledge the difficulty of returning to form after a long-term absence.
"I'm not sure he's lost a yard of pace to be honest, I can't say that," he said. "He's had some big injuries. As I know myself it is difficult to come back from them."