Seventeen-year-old Sterling was a surprise call-up to the senior England squad this afternoon following a spate of injuries.
Despite the fact that he only made his first Premier League start this season, Gerrard has tipped the youngster to have a bright future.
"He is a fantastic talent, one of the shining lights at our club this year, even though results haven't been good enough," the captain told reporters. "It is great for him to be called up and get a feel for the senior group because it won't be too long before he becomes a regular in this group. He is that good.
"He is a mature 17-year-old. There is nothing flash about him at all. He is a quiet kid. He works hard and listens and that is the key when you are that age and a good player."
However, Gerrard has warned everybody to allow Sterling to develop in his time.
"Let's be patient with him. Let's not force it and expect too much too soon," he added. "Let it happen naturally and in time we will have a fantastic player for Liverpool and England.
"Just because you break into an England squad, or played a handful of games for your club, it doesn't mean you are the finished article.
"There is still so much improving and learning for these guys to do."
Sterling is not expected to feature during tomorrow's World Cup qualifier against Ukraine.