Klopp has transformed Liverpool’s fortunes since taking over from Brendan Rodgers in October 2015.
The former Borussia Dortmund manager led Liverpool to three cup finals, losing to Manchester City, Sevilla and Real Madrid in the Carabao Cup, Europa League and UEFA Champions League respectively before finally lifting silverware in the shape of Europe’s premier club competition last year.
Liverpool have added the UEFA Super Cup and the FIFA Club World Cup to their trophy haul under Klopp and were on the verge of winning their first league title in three decades when the 2019/2020 season was suspended because of the Coronavirus pandemic.
The Premier League resumes this week and Liverpool will need two wins from their final nine games to seal the title.
Liverpool have statues of legendary managers Bob Paisley and Bill Shankly outside Anfield, but Gerrard reckons Klopp should also be immortalized in bronze when Liverpool seal the long awaited title.
"Knowing Jurgen, he won't want to be put in that bracket. I know what he's like, he's humble and respectful," Gerrard told The Athletic.
"When you look at the scale of the job he's done, for sure he deserves to be mentioned in the same breath as those iconic managers.
"What you need to take into consideration is that when Jurgen took over Liverpool they weren't close to being the best team in the country, they weren't even in the top four.
"To come to Liverpool when he did, get to the amount of finals that he has, deliver the sixth European Cup and then deliver the first league title after 30 years…
"For me, someone like Jurgen should be rewarded now. It seems like in football we often wait until people get older before their achievements are fully recognised.
"But I know the owners of Liverpool won't let that happen. When Jurgen delivers the league they should already be starting work on a statue of him."