England confirmed their qualification to the tournament last month, and should he bit fit it will be the 33-year-old's fifth major tournament for the Three Lions.
When asked about the possibility of the midfielder standing down from the international stage after he returns from South America, the Northern Irish coach replied: "I think it's something he will assess and look at.
"If you go to a World Cup in Brazil at 34 years of age you might not have many more championships left in you. Very few players do.
"Whether he plays in the two friendlies or not is another matter. There are absolutely times when you can rest him and I think that is important for him. He and Roy [Hodgson] have a good relationship and I'm sure if he needs a breather in these two games he will get it."
Gerrard - captain for club and country - has 107 caps for England, 18 short of Peter Shilton's record of 125.