The England international midfielder has been out of action for over six months with a groin injury, but is being tipped to return tonight in the Carling Cup third round tie against Brighton & Hove Albion.
His return would provide the club with a much-needed boost following Sunday's disappointing 4-0 defeat to Spurs at White Hart Lane, and Carragher believes it can only have a positive affect on all those involved with the club.
"His presence will give everyone a lift,” he told The Daily Express.
"It's disappointing, of course, that he has missed the start of the new season, but what a player we now have to come back to help.
"I speak to him on a daily basis, so I know how much he has wanted to get back. That is what makes him the player he is. He is just so desperate to be part of the new scene."
That new season has been created on Merseyside by manager Kenny Dalglish, who spent big in the transfer window to bring in midfielders Jordan Henderson and Charlie Adam.
With the additional competition for places, Gerrard's position at the heart of the Liverpool side is no-longer guaranteed, although Carragher is in no doubt that the 31-year-old will be happy to fight for his place, as is the way in football.
"It's not just Stevie. When you are out of the picture that is the way it is in football. You move on," Carragher continued.
"There has been a lot of talk about the players we have brought in and rightly so. But there is also the added bonus of knowing that Stevie is coming back to help out as well.
"He is the captain, the biggest name here. He is simply one of the best players around."