The Reds manager said the midfielder may retire from international football to help extend his time at Anfield, but indicated the 33-year-old is yet to make any concrete decision
The influential midfielder is the Three Lions fourth-most capped player - one behind Bobby More, eight behind David Beckham and 18 off goalkeeper Peter Shilton's record - and has appeared at three European Championships and two World Cups.
But Rodgers believes this summer's tournament in Brazil could well be his last, with Gerrard set to be 34 at the end of the competition and keen to prolong his club career.
"I think it's something he will assess and look at," the Liverpool boss told reporters. "If you go to a World Cup in Brazil at 34 years of age you might not have many more championships left in you.
"Very few players do. I can think of [Javier] Zanetti and [Paolo] Maldini who have played on late but it's rare.
"It will be Steven's decision but I'm sure in these years now he'll want to maximise every cap, every performance and every minute on the pitch he can, and that's what he's trying to do."
Gerrard has been included in Roy Hodgson's squad for the upcoming friendlies against Germany and Chile, despite starting every game for both club and country so far this season (17).
The former Swansea manager insisted he has no problems with the player's selection, but did admit that he would welcome a rest for his captain during the international break.
"I think it is something that Roy has looked at for these games but Steven is a real talisman for the group," he added.
"He is real leader for the team and everyone there. Whether he plays in the two friendlies or not is another matter. There are absolutely times when you can rest him and I think that is important for him.
"But for Steven he probably looks at it as though this is his last international year and after the World Cup that will be all finished and he will have lots of time to rest then.
"He and Roy have a good relationship and I'm sure if he needs that breather in these two games he will get that."