Reflecting on their 5-0 thrashing of Luton, Gerrard told Liverpoolfc.tv: "Nothing anyone was going to do was going to take it away from him and rightly so because to play 500 games for Liverpool is a fantastic achievement.
"It was an absolute pleasure to hand the armband over to him and he deserves all the accolades that are coming his way.
"He's worked so hard from day one to establish himself in the first team and he really deserves to have reached 500.
"The sacrifices he makes off the pitch and the effort he puts into every game and training session means he deserves all the accolades he gets.
"Even now, if he never played another game again, he is a legend.
"He's won the treble, FA Cups and a Champions League. He's sweated blood and guts for this club."