Reports over the last few years had claimed that the Reds may seek a new home in order to boost capacity and ticket revenue.
However, the club's managing director Ian Ayre confirmed this morning that the wheels have put into motion regarding improvements being made to their current home.
"I'm really pleased. I've had some special occasions at Anfield and so have the club," Gerrard told reporters at a press conference ahead of England's World Cup qualifier against Poland tomorrow night.
"If they are going to spend all that money on Anfield and improve it then fantastic. I'm very happy at that news."
News of the redevelopment has marked John W Henry's second anniversary as owner of the club.