The Sun says the Kop boss gave his support to the England midfielder following his assault charge.
Gerrard, 28, was released on bail yesterday and will appear in court on January 23 - along with two other men - to answer charges of assault occasioning actual bodily harm and affray following an alleged brawl at a Southport bar.
Benitez, himself recovering from a kidney stone operation, is believed to have given Gerro his full backing and told him he will remain club captain.
Gerrard was arrested a few hours after his star man display in the Reds' 5-1 win at Newcastle.
An Anfield spokesman said: "Steven has been an outstanding servant to Liverpool for the last 10 years and the club will give him all the support he needs at this time."