The Spanish full-back joined the Reds from Atletico Madrid earlier this summer on a two-year loan deal.
Having been a fan of Gerrard's as a child, the 20-year-old admits that he is delighted to be in the same team as one of his idols.
"The first time I watched Gerrard play, I was only a child," he told Liverpool's official website. "Now I play in the same team with him. He's a truly great player and it's a dream come true to share the field with him.
"I'm very happy to stay here. There's some things I miss about home - the weather is the main one - but I'm getting accustomed to things here more and more every day."
Manquillo has made two appearances for Liverpool so far this season.