The England midfielder, who scored a hat-trick in the last Merseyside derby, called on his teammates to be "heroes" in the Wembley encounter.
"I think it's happened a lot of times, big players have had a big impact on big games but anyone can be the hero on the day," he said.
"It's one of those occasions that's set up so well for heroes. Big games, big heroes - let's hope they're in red shirts.
"FA Cup semi-finals are very big at the best of times, but when you are playing your local rivals there's an extra bit of spice involved and it makes it that bit bigger."
Liverpool and Everton have not faced each other at Wembley since the 1989 FA Cup final, which the Reds won 3-2.
Gerard previously said that it will be a proud day for the city when the two sides line up against one another this weekend.