Eurosport - Tue, 20 Jul 12:13:00 2010
There had been speculation that the 30-year-old would be leaving the Premier League upon returning from the World Cup, with Real Madrid and Internazionale both identified as possible destinations.
However, Gerrard confirmed on his return to training that, following a meeting with new manager Hodgson, he would be remaining at the club where he has been since he was eight years old.
He told the club's official website: "I made it clear that I simply needed to concentrate on the World Cup and then have a decent holiday with my family.
"I wanted the chance to meet Roy Hodgson privately and having done so I'm very impressed with his plans for the future of the team.
"I've only returned to training today at Melwood with some of the other World Cup players, but I can't wait for the new season to start."
He added: "I know Joe well through the England set-up and have seen first hand just how good a player he is.
"He's proved his ability over many years in the Premier League - sometimes against us - so it will be fantastic to play alongside him in a red shirt for Liverpool.
"I've told him what a great club this is and I'm sure Joe's the sort of exciting talent our fans will love to see."