The Liverpool skipper will earn his 100th cap against Sweden on Wednesday night but has yet to win any major honours with the national side.
Wilshere won't start the match in Stockholm having missed 17 months of action through injury, but Gerrard has praised the 20-year-old and believes that England need to produce more players like the Gunners midfielder.
"When you are my age and have another disappointment with England, [quitting] crosses your mind," said Gerrard.
"After the Italy disappointment, I had a decision to make. But knowing players like Jack were coming through made me feel it was worth hanging about and carrying on for a couple more years to see if things change.
"If we can produce more players on Jack's level, maybe we have got a chance of going far in a tournament."
Wilshere has five England caps to his name.