Gerrard: I may regret turning down Real Madrid
The Liverpool captain has spent his entire career at Anfield and holds legendary status at his hometown club.
Former England skipper Gerrard will lead Liverpool out against European champions Real in Wednesday's UEFA Champions League Group B encounter at Anfield.
The 34-year-old midfielder said it could have been a different story had he opted to move to the Santiago Bernabeu when opportunities arose.
"It is very flattering to be linked to a huge club like Real Madrid." he said.
"I've had a couple of options throughout my career to go to Real Madrid but I resisted temptation, because of the big connection I have to my hometown club.
"It may be something I regret down the line, for not challenging myself and having a change of scenery in a different country, but I would have had an even bigger regret if I'd left the club I love.
"I'm a big fan of Real Madrid. They are a special club. But Liverpool are my number one club."
Real coach Carlo Ancelotti also revealed that he attempted to lure Gerrard to Milan when he was in charge at San Siro.