The 30-year-old is well-known to Rodgers from their time together at Chelsea and the new manager, who has already spoken to Cole, stressed everyone will get a fresh start.
"I met up with Joe Cole when I was in Spain," said the Reds boss, who has returned from holiday to begin work at Melwood in earnest.
"I certainly know he's looking to come back. I've got to assess all the players.
"For me it's fresh for everyone - I'll be new into the club.
"When a new manager comes into any club, it always sparks off that renewed motivation for players.
"The cycle with Kenny (Dalglish) was a terrific cycle but I'm a different tactician and a different type of person and that will give all the players an opportunity to perform.
"With the likes of Joe - he's a very talented player. He's obviously gone out to Lille and done very well.
"Of course I know lots of the players and their qualities but Joe is obviously a player who'll want to come back and show his worth to the group.
"There are a lot of players I'm aware of and they wouldn't be at Liverpool if they didn't have the qualities.
"Over the course of pre-season I just need to decide the types of players who are going to fit into the function and the philosophy and the structure of the team."