The 34-year-old midfielder's current deal at the club expires at the end of the campaign and he will be able to sign a pre-contract agreement with foreign clubs from January should he decide to end his time at Anfield.
Liverpool boss Brendan Rodgers has confirmed that the club have offered Gerrard an extension, but the player himself opted not to confirm his intentions.
"I'll decide when I'm ready," Gerrard told BT Sport, following Liverpool's 3-1 win at Leicester on Tuesday, in which he scored one of his side's goals.
"There's nothing to say on the contract at the moment. When there is - the fans have known me long enough - I'll come out and I'll say what I need to say."
Gerrard started Tuesday's game at the King Power Stadium, after being named on the bench for Saturday's 1-0 home win over Stoke, which had led to suggestions - since denied by both player and manager - that he had fallen out with Rodgers.
Midfield partner Jordan Henderson was glowing in his praise of the Anfield skipper after the Leicester success.
"He's a massive player for us," Henderson told television reporters.
"He led by example tonight in the number 10 role, working as hard as he can for the team winning the ball back.
"He got his rewards with the goal. It’s fantastic for him."
