The 34-year-old's contract expires next June, and he has not so far been offered another one. As things stand, he would be free to sign a pre-contract agreement with another club in January. Gerrard, who has been with Liverpool since age 9, insists he will still be playing next season -- but not necessarily for the Reds.
He told the Daily Telegraph: "I won't be retiring this summer. I will play beyond this season. We will have to wait and see if that's at Liverpool or somewhere else. That's Liverpool's decision."
Gerrard, who captained England at the World Cup in Brazil this summer, retired from international football in an attempt to prolong his club career.
But he has had a frustrating start to the campaign, as Liverpool have so far failed to match the standards that saw them finish runners-up to Manchester City in the Premier League last season.
Luis Suarez, last season's 31-goal top scorer, was sold to Barcelona for 75 million pounds, while manager Brendan Rodgers spent heavily on bringing in nine players.
But he believes that a move for either player would have gone against the transfer policy operated by owners Fenway Sports Group.
He said: "When you come close to the title, it is important you keep your main players. It's not just about those coming in, it's about what got you there.
"You need to keep that together and add to it. When you are taking big chunks of it away and adding five or six into it, it's not going to happen overnight.
"They [Fenway Sports Group] have gone on record saying they want to bring exciting young talent into the club. You can't just expect that to click overnight."
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