The 17-year-old experienced his first fierce derby at Goodison Park on Sunday, where his side played out a 2-2 draw with Everton.
"I thought Sterling was fantastic," Gerrard told the Liverpool Echo. "At 17 years of age, playing away in a derby, in a cauldron and an atmosphere like that against a big, physical long-ball team, he was outstanding.
"I don't think the Everton players would have known much about Raheem Sterling before Sunday. But I think they will be seeing an awful lot of him in the future. He will be playing in many Merseyside derbies and he will have a major impact on them."
Sterling has become a regular inclusion in the first team this season under new manager Brendan Rodgers.