Gerrard had a successful playing career with Liverpool and went on to captain the Reds before he departed to LA Galaxy in the United States.
The 37-year-old has completed his UEFA Coaching license badges and is now in charge of the Liverpool youth set up.
According to a report by the , Rangers are close to a deal to bring the rookie manager to Scotland.
The Ibrox club are reportedly ready to give Gerrard his first taste of senior management even though he is inexperienced at the level.
The report states that Gerrard is not at all bothered about his inexperience in coaching as he trusts the experience gathered over the season he played at the top level.
Rangers are currently recruiting for next season and the report suggests that the players are been brought in for the yet to be named coach.
Burnley midfielder Scott Arfield has already agreed to join Rangers on a three-year deal, while Hull City shot-stopper Allan McGregor is reportedly ready to snub Nottingham Forest to rejoin Rangers.
If Gerrard is eventually appointed he will face his former coach Brendan Rodgers in the Old Firm derbies.