The Gers were presented with the Scottish Premiership title on Saturday after finishing the season 25 points clear of rivals Celtic with their unbeaten record still intact.
Liverpool legend Gerrard has been touted as a potential replacement for current Anfield boss Jurgen Klopp for some time now, but speaking on talkSPORT, McCoist believes that it will still be quite a while before he walks away from Ibrox.
He said: “I don’t think it’ll be any time soon.
"Listening to Steven’s interviews after the game, as he has done since he’s taken the job, he speaks very very well. He just gets it.
"I heard him say that Liverpool have got a great manager, and they have got a great manager. The Liverpool fans are very happy with their manager, and so are Rangers.
"Would Steven Gerrard be a great fit for Liverpool in the future? 100%.
"It’s all about timing. In my opinion, the timing is not right. I’d love him to stay another couple of years, win another couple of titles, play in the Champions League. Then if the time is right, move to Liverpool.
"I’m not sure it would be a good move for him going somewhere else before Liverpool.”
Gerrard spent his entire playing career with the Reds, lifting a Champions League, two FA Cups, a UEFA Cup, and three League Cups during his time at the club.