The Liverpool manager believes the veteran midfielder could extend his career even further by adopting a defensive role in the future, and is confident ahead of the trip to Hull.
The 33-year-old made his debut for the club as a 90th-minute substitute in a 2-0 victory against Blackburn Rovers on November 29, 1998.
Gerrard has gone on to win several honors with Liverpool, including the Champions League and FA Cup, but Rodgers believes the midfielder can prolong his career by moving into a deeper role.
"I think he can play as a No. 2 center half late in his career," Rodgers told reporters. "You're playing against certain teams where they've got one up [in attack], I think he can play as a center half - as a right-sided center half - and build the game from behind.
"How he passes the ball is as good as anyone in the world, short and long, so it's a possibility that he could go on."
Liverpool faces Hull on Sunday, with Rodgers confident of picking up a win at the KC Stadium, despite being impressed with Steve Bruce's side.
"The teams promoted, they've done really well, so they look to be heading on course to be a team in the middle of the table, so that will tell you it's going to be a very difficult game for us," Rodgers said. "But our confidence is high and our spirit is very strong at the moment, so even though it'll be tough we hope we can go and get the points."