The Merseyside outfit finished just two points behind champions Manchester City after closing the previous campaign in seventh place.
Despite failing to earn their first league title since 1990, Sterling has claimed that Liverpool's teamwork will give the Reds a strong chance of bringing success to Anfield.
"Last season we did really well as a team," Sterling told LoopJamaica.com. "This season we will just go in the same as we did last year and take it step by step, week in week out.
"Hopefully we can do well as a team and a collective. We will be going out there on a positive note and hopefully we can do what we know we can do."
Liverpool are expected to be without star striker Luis Suarez next season following widespread reports that the Uruguayan is poised to join Barcelona in a reported £70m deal.