Joe Allen opened the scoring with a simple tap-in following Iago Aspas's mis-hit shot in the 23rd minute.
You can read how a celebratory 90 minutes of football unfolded with Sports Mole's live play-by-play coverage below.
11.45amGood morning! Thank you very much for joining Sports Mole for what is a very special occasion for Steven Gerrard. The Liverpool stalwart celebrates his testimonial with the club this afternoon as they take on Olympiacos at Anfield.
11.47amBefore we take a look at the man of the hour, let's have a look at both teams, starting with our hosts today. Liverpool have had a successful pre-season tour to the Far East and Australia and will enter the upcoming Premier League season confident of launching a stronger challenge for the top four than in previous seasons.
11.49amTheir pre-season hasn't exactly seen them come up against giants of world football, but a 100% record with no goals conceded is a good record nonetheless. They began with a 4-0 win over Preston North End before back-to-back 2-0 wins over Indonesia and Melbourne Victory respectively. Their last game saw them run out comfortable 3-0 winners against Thailand but, on paper, today's match will be the Reds' sternest test of their pre-season campaign so far.
11.51amThey still have two matches left after today's before their busy pre-season schedule comes to an end. They face an away trip to face Valerenga on Wednesday before taking on Celtic in Dublin a week today. Then, on August 17, the real business starts as their Premier League season kicks off with a home match against Stoke.
11.53amWhile today's game will first and foremost be a celebration of Gerrard's magnificent career (more on that later), manager Brendan Rodgers will still want to use it as another chance to get his players up to speed before the new season.
11.55amTurning our attention to Olympiacos, the Greek side haven't exactly had the best of times during pre-season. They beat Simurq 2-1 early in their warm-up campaign, but a trip to Germany saw them draw twice and lose heavily to both Freiburg and Hoffenheim, shipping four goals on both occasions.
11.57amThey also have two friendlies left before their season gets underway. They play their first competitive match on Monday 19, taking on Kallonis.
11.59amThey go into the new Greek Super League as heavy favourites to win the title despite their pre-season form. They cruised to record 40th league title last season, being crowned champions for the third year in a row. They also won the Greek Cup for a record 26th time to complete their 16th double (unsurprisingly another record).
12.01pmTEAM NEWS: The team news is in and for today all eyes are on Gerrard, who of course starts the match. Relegated to a sub-plot today is Luis Suarez, who once again starts on the bench alongside two returning legends - Jamie Carragher and Robbie Fowler. Full team news coming right up.
12.03pmLIVERPOOL STARTING XI: Mignolet; Johnson, Enrique, Toure, Agger; Lucas, Allen, Gerrard, Coutinho, Sterling; Aspas
12.04pmLIVERPOOL SUBS: Jones, Kelly, Alberto, Skrtel, Downing, Henderson, Ibe, Wisdom, Coates, Borini, Suarez, Spearing, Carragher, Fowler
12.06pmI must say I am a little disappointed at the lack of former players in today's squad. It would have been great to see teammates of Gerrard's turning out for the club one last time, and Liverpool could have named a star-studded lineup if that was the case. Realistically, however, this match is doubling up as another pre-season match for Rodgers to get his players back to full fitness, so that is probably the main reason behind only Carragher and Fowler returning.
12.08pmIt will be great for Liverpool fans to see those two back in red. Fowler will probably be the player most are looking forward to seeing again out of those two due to the fact that Carragher only retired last season. The man nicknamed 'God' by the Anfield faithful scored 183 goals in 369 games for the club and at one time was one of the most feared strikers in Europe.
12.10pmWe should also probably mention the ongoing saga surrounding Luis Suarez, who is still yet to start a pre-season match. He joined the squad late following his Confederations Cup exploits and has been the subject of countless column inches having signalled his desire to leave the club. Arsenal have made tow bids, both of which have been rejected, and Liverpool don't seem set to sell him unless the Gunners make an offer that they can't refuse.
12.12pmArsene Wenger has publicly stated that he is interested in bringing Suarez to the Emirates, but Liverpool have been equally public in their refusal to sell him for any less than £50m. There has been talk of legal disputes and potential transfer requests, and the whole thing is rather messy. Brendan Rodgers will be keen to get it over and done with as soon as possible. The best case scenario for him would see Suarez stay at the club, and to be honest that looks like the most likely result at the moment.
12.14pmSpeaking of strikers, Liverpool will have two number nines this afternoon. Iago Aspas is the current holder of the famous shirt, but Fowler wouldn't be Fowler without the number nine on this back, so he will also wear it.
12.16pmThe Suarez saga has overshadowed much of Liverpool's pre-season preparations so far, but it won't be thought about much this afternoon. Today is dedicated to one man and one man only - Steven Gerrard.
12.18pm'Captain Fantastic' has established himself as a bona fide legend at Liverpool and is without doubt one of the greatest players in the club's illustrious history. In the last '100 Players Who Shook the Kop' countdown, Gerrard came second only to 'King' Kenny Dalglish. There is another of those countdowns going on at the moment, and it would be no surprise to see Gerrard take top spot this time around.
12.20pmIn his 630 appearances for the club Gerrard has saved Liverpool countless times. His performances in the 2005 Champions League final, the 2006 FA Cup final and plenty more Premier League matches have gone down in history, and his loyalty is a shining example of a dying trend in football.
12.22pmThe likes of Ryan Giggs, Paul Scholes and Xavi are, correctly, given as similar examples of loyalty, but they have been winning titles regularly throughout their career. It is impossible to know whether any of those three would have stayed at their respective clubs had they never won a league title, which is why Gerrard's loyalty stands out even brighter. He, along with the likes of Francesco Totti for Roma and Gianluigi Buffon - who stayed with Juventus even when relegated to Serie B - has showcased unflinching loyalty to his club even when they haven't been perennial contenders.
12.24pmOf course, there have been times when his loyalty has been tested. Chelsea, under the stewardship of Jose Mourinho first time around, turned his head on more than one occasion and he was very close to joining the Blues at one point, but in his own words, he couldn't imagining returning to Anfield with any other team.
12.26pmAnother example of this loyalty emerged earlier today as Gerrard revealed that he had turned down a move to a Champions League side, believed to be eventual treble winners Bayern Munich.
12.28pmIt is hard to know where to begin when looking at Gerrard's best moments in a Liverpool shirt, but perhaps a fitting place to start given today's opponents would be Gerrard's own favourite goal for the club. If anyone is wondering why Olympiacos were the team chosen for the testimonial, wonder no more:
12.30pmThat goal, as I'm sure you won't need reminding, kept Liverpool in the Champions League that season. It proved to be a hugely important moment as the Reds went on to win their fifth Champions League crown, beating AC Milan on penalties in an amazing final that has since been dubbed the 'Miracle of Istanbul'. Needless to say, Gerrard was heavily involved in that too, scoring Liverpool's opening goal as they came from 3-0 down to level the scores at 3-3.
12.32pmIt would take far too long to go through each highlight of Gerrard's career one by one, so here is a compilation of his best moments:
12.34pmDuring his illustrious career, Gerrard has helped Liverpool to two FA Cups, three League Cups, two Community Shields, that Champions League, one UEFA Cup and two European Super Cups.
12.36pmThe great midfield maestro Zinedine Zidane himself dubbed Gerrard the "best player in the world" in 2009, the year that Cristiano Ronaldo moved to Real Madrid for £80m and Lionel Messi lit up the Champions League final. In 2010, Gerrard was also named in The Guardian's World XI team, which set about naming the greatest football side of all time. Gerrard was named in right midfield ahead of the likes of Garrincha, George Best and Sir Stanley Matthews.
12.38pmThe individual awards don't stop there either. In 2005 he won the Ballon d'Or Bronze Award, losing out to Ronaldinho and Frank Lampard, while in the same year he was named UEFA Club Footballer of the Year. He has also been named FWA Footballer of the Year, PFA Players' Player of the Year, PFA Young Player of the Year, PFA Fans' Player of the Year and has been included in the PFA Team of the Year seven times, including six times in a row between 2004-2009.
12.40pmPREDICTION: Right, I could go on about Steven Gerrard's achievements all day, but it is time to make a prediction for today's match. This should be Liverpool's hardest pre-season test so far, but I still can't see them losing it. I'm going to go for a 3-1 win to Liverpool with Gerrard to score - the same scoreline as it was the last time these two teams met in 2004.
12.42pmGerrard receives a magnificent ovation from the home crowd and a guard of honour as he walks on to the pitch. Great moment for the midfielder.
12.44pmThere are countless 'Gerrard' scarves hoisted in the air as an emotional rendition of 'You'll Never Walk Alone' rings around the ground. Gerrard is soaking up the moment with his children on the pitch, and rightly so.
12.47pmReferee Mark Halsey will be in charge of this match today, the final time he will referee a game.
0 minKICKOFF: Here we go! Steven Gerrard's testimonial gets underway as Olympiacos kick off to a huge roar from the Anfield crowd.
2 minGerrard's first touch is greeted by a huge ovation, even though he simply plays a square ball. Expect his every move to be celebrated today.
3 minCHANCE! Early opening for Liverpool as a quick free kick allows Johnson to find Toure inside the box. The centre-back plays a first-time pass to Allen, who flashes the ball across the face of goal when he might have been better shooting.
5 minCHANCE! Another huge chance for Liverpool, and Allen is involved again. He is lightning quick on to a misplaced pass and Iago Aspas is up in support with him. Allen is unselfish and plays the ball to the Spaniard, but the Anfield debutant can't beat the keeper when one-on-one.
6 minA long cross from Coutinho almost falls at the feet of Sterling but it is intercepted just in time. This has been a very bright start from Liverpool.
8 minMitroglu thinks that he has an opening as he shows good strength to brush aside Agger before racing through on goal. Mark Halsey takes his time but eventually gives a free kick for a foul on Agger, and Mitroglu's finish was sliced wildly wide anyway.
9 minGerrard has his first shot of the afternoon, and you can be sure that wherever he gets the ball the crowd will urge him to shoot. He is a good 35-40 yards out here and he can't keep his effort down as it sails over the bar.
11 minGerrard hammers the ball straight at Mark Halsey, which prompts the inevitable howls of delight from the crowd. Gerrard and Halsey both have a good laugh about it afterwards.
13 minLucas is certainly not holding back despite this supposedly being a friendly. He puts in a meaty, but fair, challenge on Alejandro Dominguez, who stays down and forces Halsey to stop the match.
15 minLiverpool are seeing plenty of the ball at the moment but the final ball isn't coming off. The hosts haven't threatened Olympiacos' goal since those early chances.
17 minNice play from Liverpool as Coutinho and Allen link up to give Aspas the ball inside the box. The Spanaird turns brilliantly, but his marker just gets a vital foot in to guide the ball back to the keeper.
19 minLiverpool look to hit Olympiacos on the break as Coutinho races forward before giving the ball to Sterling on the edge of the box. The youngster's first touch is a little wayward, which gives the defence time to get in the way of his eventual shot.
20 minLucas has just clattered into a tackle again, but this time he gets none of the ball. That would have been a definite yellow in the regular season.
21 minSamaris tries a shot from a long way out as Olympiacos still struggle to find a way through the Liverpool defence. There is nothing to worry about for Mignolet, however, as the ball trickles harmlessly wide.
23 minCHANCE! Aspas is bringing out all of the tricks today. Enrique lifts the ball to the Spaniard, who produces a brilliant flick in to the middle where Allen is waiting, but he blazes his volley well over from close range.
23 minGOAL! Liverpool 1-0 Olympiacos (Joe Allen)
24 minNo mistake this time from Joe Allen! Aspas trades passes with Sterling on the edge of the box before flashing what I'm sure was a shot across the face of goal. It turns out to be a perfect low cross for Allen, however, who has an easy tap-in at the far post. He couldn't miss that one.
26 minGerrard concedes a free kick right on the edge of the Liverpool box and Olympiacos have a very good chance to hit straight back here...
26 min...but Dominguez hammers his shot straight into the wall.
28 minVery good run from Sterling down the right as he shrugs off the attentions of Fejsa who is repeatedly fouling the winger. His eventual cross towards Allen is cleared behind for a corner.
28 minCHANCE! Another huge chance for Aspas to get his first Anfield goal goes begging! Agger wins a header at the far post following a corner and the ball drops to Aspas around six yards from goal. He volleys it first time on the turn, but the keeper is out quickly and makes a very good save, although he didn't know much about it.
30 minCLOSE! The ball is swung in to Toure, who gets in front of his man and flicks a header towards the back post, but it falls a yard or so wide. Decent effort.
32 minOne thing that has been very notable in Liverpool's pre-season campaign so far is Allen's willingness to get forward more often. He was always regarded as a central midfielder who simply distributes the ball, but this season he looks set to play as an attacking midfielder, rather like Gerrard has done for most of his career.
33 minCLOSE! Speaking of attacking, Glen Johnson is one of the best attacking full-backs in England at the moment and he almost shows exactly why there. He cuts inside on to his left foot before firing a fine effort just wide from 25 yards out.
35 minGerrard really wants to score today! He picks up the ball on the edge of the box and has only one thing on his mind. He goes for a trademark thunderbolt, but he effort is deflected before being collected by the keeper.
37 minCHANCE! All of Liverpool's chances seem to be falling to Aspas or Allen in this match. This time it is the latter, who should get on the end of a fabulous first-time cross from Gerrard. He does get something on his header, but nowhere near enough as a very good chance goes begging.
39 minCHANCE! That was almost the moment for Gerrard! He charges forward from deep and Coutinho picks him out with a fine pass. He manages to get past one tackle but the keeper is out quickly to smother any shot.
41 minMegyeri denies Gerrard again! Aspas gives it to Sterling, who cuts inside his man and has a good chance to shoot but instead plays a reverse pass to try to find his skipper. The keeper knows that Liverpool will always look for Gerrard, however, and shows good anticipation to come out and claim the ball just in front of him.
43 minBefore those last two openings I was about to say that Gerrard was playing in a very deep role today, with Allen providing the main attacking threat from midfield. This will undoubtedly change the longer Gerrard goes without a goal, and there have been signs of the Liverpool skipper moving into a more attacking role already.
45 minThere will be one minute of added time at the end of this half.
45+1 minHALF TIME: Liverpool 1-0 Olympiacos
1.38pmSo far so good for Liverpool as they go into the break 1-0 up. It is a thoroughly deserved lead and, to be honest, it should be more. Iago Aspas and Joe Allen have both missed glorious chances, although the latter did get his name on the scoresheet eventually with a simple tap-in.
1.40pmDespite some less-than impressive finishing from Allen and Aspas, they have both had very good games so far. It was Aspas who created the goal and he has shown plenty of tricks and flicks to create other chances. He looks very sharp. Allen, meanwhile, has made some very good runs into the box and is looking to get forward at every available opportunity.
1.42pmHow about Steven Gerrard, then? The Liverpool skipper has been prevalent without grabbing headlines in this match so far. He has shown glimpses of his trademark passing ability and has had a couple of long-range efforts as well. He has been playing deeper than we are used to seeing him which has limited his chances, but I expect that to change in the second half as he searches for a testimonial goal.
1.44pmGerrard did start to venture forward a little more towards the end of the half and almost got a dream goal when he got on the end of Coutinho's pass. The keeper thwarted his attempts on that occasion, and just minutes later showed good anticipation to smother another potential Gerrard chance.
1.46pmThe second half will undoubtedly see a number of subs being made on both sides, but Liverpool fans will be eagerly anticipating at least three of them. Fowler, Carragher and Suarez remain on the bench and will all play some part in the second half. Gerrard is also likely to come off at some point so that he can get a standing ovation, but I'm sure he'll be telling Rodgers not to do it until he has got a goal.
1.48pmAs far as Olympiacos are concerned, they haven't created anything going forward in this match. Mitroglu has cut a lonely figure up front for the visitors and he is quickly surrounded by red shirts whenever he gets the ball.
1.50pmIn short, Liverpool have dominated and are in complete control of this match. They still need a second goal just to make sure, but I would be very surprised if they don't win this match following that first half display.
1.52pmThe Reds have looked sharp, which will please Brendan Rodgers. With two weeks to go until the start of the new season Liverpool are looking almost at full fitness and there have been plenty of positives to take from the match so far.
1.54pmOLYMPIACOS SUB: The visitors are making two changes at the break, bringing on Anastasios Papazoglou and Vladimir Weiss.
45 minKICKOFF: Liverpool get us back underway as they attack the Kop end in this second half.
47 minOLYMPIACOS SUB: Olympiacos made three changes at the break, in fact, also bringing on Roberto in goal to replace Megyeri.
49 minJohnson plays the ball back to Gerrard, who teases a delightful low cross into the box, right into the fabled corridor of uncertainty. Coutinho can't quite get on the end of it, however.
51 minJohnson skips past his man before letting fly with a shot from the edge of the area. His shot is blocked and falls to Gerrard on the edge of the box. It doesn't sit up for the Liverpool skipper, however, and he is forced out to the left before sending his cross over the bar.
52 minPENALTY SHOUT! The Kop rises as one to appeal for a penalty and a chance for Gerrard to score from the spot, but Halsey remains unmoved. It was brought about by fantastic footwork inside the box from Coutinho, but the Brazilian did go down too easily and it was the correct decision not to award a penalty.
54 minSlightly nervy moment for Mignolet as he opts to punch a low cross at the near post when he could have probably caught it. The ball bounced back off Toure, who eventually hacked it clear.
55 minSAVE! More lovely footwork from Coutinho inside the box as he eludes two defenders before producing a snapshot which is straight at the keeper. Great play from the Brazilian.
57 minSterling sends a fine pass out to Coutinho with the outside of his foot and the Brazilian advances into the box before trying to take his man on again, but Fejsa makes a good challenge this time.
58 minOLYMPIACOS SUBS: Triple change for Olympiacos as Paulo Machado, Kostas Manolas and a certain Javier Saviola enter the field of play.
60 minCHANCE! So nearly a lovely goal from Sterling. Coutinho sends a brilliant ball through to the youngster, who tries to lift the ball over Roberto but it bounces just wide. Very unlucky.
62 minLIVERPOOL SUBS: Huge cheers greet the arrival of Luis Suarez, who takes to the field with a big grin on his face. The Liverpool fans are in no doubt that they want Suarez to stay. Carragher also gets a huge ovation as he comes on, while Henderson is the third of three changes for the Reds.
63 minGOAL! Liverpool 2-0 Olympiacos (Jordan Henderson)
64 minWhat an introduction! A matter of second after coming on, Henderson scores with his first touch. It was Sterling who played the ball through to the sub, who squeezed it past Roberto from a tight angle having made a clever run. Just 12 seconds separated his introduction and his goal there.
66 minSuarez's every move is being cheered by the Liverpool fans. I must say that I wasn't sure what sort of reaction he would provoke having asked to leave the club, but there isn't a hint of negativity towards the Uruguayan in this ground.
68 minI wouldn't mind seeing Gerrard move into a more attacking role now. The day just wouldn't feel right without him scoring, and he only has 20 minutes or so to get his name on the scoresheet. Henderson is the furthest forward midfielder now, having replaced Allen.
70 minSAVE! Henderson tries to whip a shot towards the far post from the corner of the area but he doesn't quite get it right as Roberto comfortably collects.
71 minCHANCE! A good save from Roberto denies Liverpool a third goal. Suarez holds the ball up before playing the overlapping Jose Enrique in. The full-back goes for goal first time, but Roberto makes a good stop at his near post.
72 minLIVERPOOL SUB: There have been a lot of big ovations this afternoon, and this one is right up there. Robbie Fowler, known to these fans at 'God', comes on to the hallowed Anfield turf for the final time. Luis Alberto also comes on, replacing Coutinho.
74 minFowler races after a ball but I think it is fair to say that he has lost some of his sharpness! The ball is played forward by Olympiacos and it takes an important interception by Agger to prevent a very good chance.
76 minOLYMPIACOS SUBS: Another set of changes for Olympiacos sees them use the remaining reserves left on the bench. Diamantakos and Lykogiannis come on for the Greek champions.
78 minSuarez dinks a ball over the top for Fowler, but this time he doesn't even attempt to chase it! In his prime that would have been a perfect pass and a certain goal, but he isn't as fast over the first few yards as he used to be!
80 minI'm just picturing a partnership of Suarez and Fowler both in their prime - now that would be a fearsome partnership! They are undoubtedly two of the best strikers to play for Liverpool, although Suarez still has some way to go before he catches 'God' in the eyes of the Anfield faithful.
82 minCHANCE! Perhaps only a Gerrard goal would draw a bigger cheer than Fowler getting on the scoresheet, and 'God' almost does exactly that. It is Gerrard who plays the striker in, but once again his acceleration lets him down and his shot is deflected just over the top.
84 minLIVERPOOL SUBS: The man of the moment Steven Gerrard is given his ceremonial ovation as he leaves the pitch on his own testimonial. Jay Spearing is the man replacing him, but it is all about the Liverpool skipper, who has been rewarded for 15 years of outstanding service to the club today. It is a shame that he didn't get on the scoresheet, but he will be happy enough. Brad Jones also comes on for Mignolet.
86 minJohnson pays his own tribute to his departed skipper with a peach of a pass to Suarez on the opposite side of the pitch. Suarez applauds it while controlling the ball before being tackled when trying to take his man on inside the box.
88 minThere are plenty of recognisable faces in the crowd for this match as Liverpool legends have turned up to play tribute to Gerrard. The likes of Aldridge, Rush and Thompson are among the spectators, while Riise, Roy Hodgson and Gerard Houllier have also been spotted.
90 minWeiss makes a good, dangerous run forward and is only stopped when Agger brings his down with a clumsy challenge right on the edge of the box. Good chance for Olympiacos to grab a consolation goal here.
90+2 minAnother free kick hits the wall as a chorus of 'You'll Never Walk Alone' rings around the stadium.
90+2 minFULL TIME: Liverpool 2-0 Olympiacos
2.43pmGerrard embarks on a much-deserved lap of honour as the Anfield faithful pay tribute to arguably the greatest player the club has ever seen. Overall it was a successful day for Liverpool, who maintain their 100% record in pre-season and still haven't conceded during the campaign.
2.45pmGerrard is currently being interviewed on the field as each and every side of the ground cheers him. He is quick to thank the fans for coming and showing their support, which prompts another big cheer.
2.47pmOn Suarez, Gerrard says that it isn't up to him, it is up to the player himself. The Uruguayan got a massive reception when he came on, and Gerrard believes that it is a sign of how adored he is by Liverpool fans everywhere.
2.49pmFowler is now paying tribute to the Liverpool skipper. Fowler also got a huge reaction when he came on, and he nearly got a dream goal late on. That would have been a best-case scenario for the Kop.
2.51pmThere was no shortage of big receptions today, with Carragher, Fowler, Suarez and - of course - Gerrard receiving the biggest of the lot. One of those players will definitely be at the club next season, and the fans have made it clear that they hope Suarez will join his skipper in staying at Anfield.
2.53pmIt is worth noting that Suarez had a big smile on his face when he heard the fans chant his name. The supporters won't have the final say on his move, but if he was in any doubt about what they thought of him after a summer of turbulence, then that was put to bed today. His reception this afternoon could well tip the balance.
2.55pmAs for the match itself, there are plenty of positives to take for Liverpool. The first half performances of Allen and Aspas caught the eye as they both looked very sharp. They did miss a few very good chances each, but their movement and generally play was impressive.
2.57pmCoutinho also looked as dangerous as ever, while Henderson showed some smart play to score just 12 second after coming on as a sub. That goal doubled Liverpool's lead that was given to them by Allen in the first half. All in all, a good day at the office for Liverpool.
3pmRight, that's it from me this afternoon. The new Championship season is just about to hit full flow, so be sure to check out Sports Mole's coverage of that. I will leave you with Matt Law's match report on a great day for Steven Gerrard. Goodbye!