The Anfield outfit led the table heading into the Christmas period but have since faltered, with eight points now separating Rodgers' fourth-placed side from table-toppers Arsenal.
|22/1||Liverpool are 22/1 with Paddy Power to win the title|
"I think for us, as a team, it's too early for that," he told Sky Sports.
"I was at the Manchester City-Chelsea game the other night and I look at the squads they have - which they have built up over the last few years - and it's very difficult for us, even though we have competed right the way through the season.
"So, I wouldn't say for us this year, no. We wouldn't be challengers for [the title]."
Liverpool do still have home games to come against all the sides above them - starting with Arsenal this weekend, before Manchester City and Chelsea both visit Anfield in April.
And Rodgers is confident his side will play a decisive role in where the Premier League trophy ends up.
"Will we play a part in it? Yes, we will, because we are professional and we want to fight to finish as high as we possibly can," he added.
"We look it and there are six points between us and [third-placed] Chelsea, so there is still a lot to play for and we will be fighting right until the very end.
"But, if I'm asked to give an honest answer, I'd probably say that this year is too soon for us."