The former England international spent last season on loan at Lille, scoring nine goals and assisting three, but is eager to prove himself at the Reds after a poor first year
The 30-year-old joined the Reds in the summer or 2010 but, after struggling for form in his first season, was shipped out on loan to French side Lille for the entirety of last term by then boss Kenny Dalglish.
Cole has revealed his desire to prove himself at Liverpool and Rodgers is willing to give him a second chance, along with other fringe members of the squad.
"I met up with Joe Cole when I was in Spain, [and] I certainly know he's looking to come back, " Rodgers told the club’s official website.
“I've got to assess all the players. With the likes of Joe - he's a very talented player. He's obviously gone out to Lille and done very well and he has the opportunity to come back here and show his qualities.
"For me it's fresh for everyone. I'll be new into the club. Of course I know lots of the players and their qualities but Joe is obviously a player who'll want to come back and show his worth to the group.
"I suppose going forward and over the course of pre-season I just need to decide the types of players who are going to fit into the function and the philosophy and the structure of the team."
Rodgers believes that his appointment gives everyone at the club the chance for a new start and, while complimenting Dalglish’s reign, he is looking for an added impetus among the players.
"When a new manager comes into any club, it always sparks off that renewed motivation for players,” he continued.
“The cycle with Kenny was a terrific cycle but I'm a different tactician and a different type of person and that will give all the players an opportunity to perform.”