Liverpool have not tasted league glory since 1990, when Kenny Dalglish guided the club to top spot in the old First Division ahead of Aston Villa and Tottenham.
However, the Merseyside outfit are finally on the verge of ending their 24-year drought, having assumed pole position in the table heading into the closing weeks of the season.
Captain Gerrard, who has won everything except the Premier League during his 16 years as a first-team player at Anfield, is hopeful his team can capitalise on the opportunity.
"For us to have not won the league since 1990 is not good enough," said Gerrard in an interview with the Telegraph.
"A club with this history should have got an awful lot closer during those 24 years.
"There are times when maybe I have given up on it — or been close to giving up on it. When you are finishing seventh or eighth and you see the gap to the top sides, it’s mentally tough.
"And then you come to the end of the season and you see the big hitters spending all kinds of money and making their squads even stronger.
"But when Brendan (Rodgers) came in I got a real feeling from him. I liked his vision for the club. I totally believe in this manager and his plans.
"You hang on to that glimmer of hope that you will have one small chance, one final go before you hang up your boots... and it's here."
