The 31-year-old Liverpool midfielder believes that the Three Lions needed a change and a fresh start as they prepare for their re-arranged friendly with the Netherlands
Capello resigned from his post as England manager earlier this month after it emerged in the public domain that he was challenging the FA's decision to strip John Terry of the captain's armband.
"I don't think it will affect the England team," Gerrard told BBC Sport.
"We'll get a new manager - it's a fresh start for everyone. It may be the lift we need to have a successful summer."
Capello was expected to lead England out in Poland and Ukraine at this summer's European Championships, but even before he had tendered his resignation, many fans felt that his time had come.
Pearce has stepped into the interim role as caretaker manager, but Gerrard admits he was shocked that Capello would choose to quit so close to the end of his contract.
"Yes, I was surprised, of course," said Liverpool captain Gerrard.
"I thought he would stay until the end of the summer, until the end of his contract and then move on, so it was a bit of a surprise."
Gerrard has had to overcome a series of injury problems over the last year and his call-up for this week's friendly with the Netherlands marks the first occasion he has been drafted in since November 2010.
With Terry out of the captaincy reckoning, Rio Ferdinand ruling himself out and Frank Lampard left out the squad, Gerrard appears the most obvious candidate for the armband.
Scott Parker and Joe Hart have both been touted but Gerrard has confessed that he would be thrilled if he was offered the role.
"If I get offered it, I'll take it and I'll be delighted and I'll be very proud to take it," said Gerrard, who was England captain during the 2010 World Cup.
"But it's not my decision. It's down to, first of all, who Stuart Pearce wants to lead the team out, then whoever gets the job full time. But I want to be England captain."