Gerrard has made himself a hero to the blue side of Glasgow after leading the Gers to their first title in a decade on Sunday.
But there are concerns that the former Reds player may soon be heading back to rejoin his first love on Merseyside.
But King - the man who hired Gerrard back in 2018 - not only expects to see him spearheading Rangers' assault on the Champions League next season, but to also see out an Ibrox contract that runs to 2024.
"Klopp has done a fantastic job, they've had a difficult season, but he is still a great manager and I think he'll still be there next season, continuing to be successful.
“Secondly, Steven is not the type of man to break a contract. Steven extended his contract with Rangers full in the knowledge that it would require winning a title and then defending a title.
"Getting into the Champions League was another obvious target. I don't think Steven will be satisfied with just winning the league. I know he wants to defend that league title and I know he wants to get into the Champions League.
"He loves the club, the supporters love him and he has the full support and backing of the board. He has a big task ahead of him, defending the league title will be important.
"It's important the fans enjoy this moment because it's been a long time coming, but next season will come around quickly."