Speculation regarding a January move to Real Madrid persists but Gerrard is certain that the Uruguayan will remain at Anfield until at least the end of the season.
"I don't feel like that about January...January will be different because I think Luis is committed," he told ESPN.
"I think he is happy. I think he is pleased with the decision he has made to stay around.
"He is in good form. The team are playing well so I think January won't be a problem. But come the summer, I think depending how Liverpool have done will determine what goes through Luis' mind.
"He is the key. His goals, his performance and his form will be the key whether we finish in the top four or not."
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