Riise played with Gerrard at Anfield and will face him tonight with Norway.
Riise, 31, said: "He was the best player I had played with from the moment I joined Liverpool.
"He will be the perfect England captain. I remember the second half of the Champions League final when we were 3-0 down. He just played right-back, centre-back, right midfield, centre midfield and striker. That is the perfect captain and the perfect player.
"People say I talk a lot about him but people deserve credit when they are one of the best and he is one of them.
"He is a hard-working player, he never gives up."