The Uruguay international sits out this weekend's Merseyside derby as he serves the second match of his lengthy suspension - likely to keep him out until late September - for biting Chelsea's Branislav Ivanovic.
That punishment increased speculation the 26-year-old would look to leave England in the summer but Gerrard sees it differently.
"Luis has done the right thing by apologising and taking his medicine," said the England captain, who confirmed he will need an operation on a troublesome shoulder injury this summer which is likely to rule him out of internationals against the Republic of Ireland and Brazil.
"He's really unhappy he can't help the team, and he was really down when the ban came through. But once he is back from his ban we will be the ones that benefit.
"Luis will want to make it up to the club and the team that he has been out for so long. He will be desperate to atone for that.
"I don't think that what's happened to Luis will affect him much in terms of his future.
"Maybe one day we will have to accept that Luis wants to move on and that will be his decision.
"But I don't see any signs of it at the moment. Luis has been really happy here at Liverpool and he seems settled here.
"I don't see him wanting to leave right now."