The 33-year-old has already adapted to a deeper holding role in recent seasons, having previously been known for his box-to-box playing style and goalscoring potential.
Rodgers feels that Gerrard has the skill set to modify his game again, and has tipped his captain to shine in a more defensive position when his fitness levels dictate that he can no longer perform in midfield.
"I look at Steven and I think he can play as a number two centre-half later in his career," he told reporters. "You play against teams where they've got one up [front] and I think he can play as a right-sided centre-half, build the game from behind.
"How he passes the ball is as good as anyone in the world, short and long. So it's a possibility that he could go on, but it will all be determined by fitness. He is 34 at the end of this season, and I look at his fitness and I look at how he is playing and he is as fit as he has ever been. He is looking after himself.
"That player he was 10 years ago, dynamic and making those long bursting runs, of course that goes out of your game. Like you see with Ryan Giggs, you adapt and change."
Gerrard, who has made 644 appearances for Liverpool since debuting in 1998, signed a new two-year contract in the summer that will see him stay at Anfield beyond his 35th birthday.