The Spain international played alongside Gerrard at Anfield from 2007-2011 before making a big-money move to Chelsea.
Despite having played alongside the likes of Xavi, Andres Iniesta, Xabi Alonso and Frank Lampard, Torres said Gerrard was best.
"Out of all the great players I have played with, Gerrard, for me, is the best," Torres told The Mirror.
"But he is more than that - he is a good friend who, as a captain, is always there for his players.
"I know what Liverpool means to him, so yes I would have loved to see my friend finish his final season with a trophy, but it was not to be.
"He has had so much success for Liverpool that I am sure the final game is going to be very emotional for him and the fans."
Gerrard will leave Liverpool at the end of what has been a trophy-less season for Brendan Rodgers' men.
Torres backed the 34-year-old's decision to move to MLS outfit Los Angeles Galaxy.
"I think he does still have lots to offer," Torres said.
"Of course your body slows down as you get older, but the technical ability stays.
"The MLS is a much slower place than in England, so I expect him to be very successful there."
