Sterling has been included in the England squad for the World Cup in Brazil following an impressive campaign for the Reds, where he scored 10 goals in 38 appearances.
Ibe, who spent the second half of last season on loan at Birmingham City, has said that he is eager to emulate Sterling's success.
"Raheem has done extremely well. He's kicked on to another level this season. I'm really happy for him, and hopefully he can continue playing at that level with Liverpool and with England," the 18-year-old told the Liverpool Echo.
"He's someone I look up to, definitely. He plays in a similar position and he's a similar age. He's someone I watch in training and try to learn from in the way he plays.
"I watch Raheem, Daniel Sturridge and the other attacking players in training. I just try to learn from them, improve myself and hopefully if and when I get my chance in the first team I will be ready to take it."
Ibe moved to Liverpool from Wycombe Wanderers in 2012.