He believes the goalkeeper will become "the best keeper in the world" and will have a key role to play in Sunday's game.
Gerrard said: "I think we have got one of the best keepers in the world in Joe and I think eventually he will go on to be the best in the world.
"His performances so far in this tournament have been fantastic and he is going to be one of our key players tomorrow night.
"We need Joe to perform at his maximum because at some stage in the game or in extra-time or if it goes to penalties, he is going to be called upon to make a fantastic save.
"We all think we can do it."