The 17-year old winger has gained plenty of attention since breaking into the first team at Anfield this season and Rodgers is confident the Merseysiders will be able to tie him up for the long-term.
"The club and his representatives are in good dialogue and good communication, and hopefully we'll get that resolved very soon," he said.
Rodgers was also very wary of playing Sterling too much with thoughts of burnout at the forefront of his mind.
"There will be at some point and we'll need to give him a breather, there's is no question," he added.
"He's been terrific so far. He's got to this stage at the end of November and been absolutely brilliant, but at some point he will need that breather.
"He's been one of our leading players, but for the benefit of Raheem it'll be something I'll need to consider."