The former Liverpool star chose to finish his playing career with LA Galaxy in the MLS after bringing the curtain down on his 17 years with the Anfield club in 2015.
But Gerrard admitted that, if he had his time again, having now experienced the Old Firm rivalry from the sidelines, he would have considered moving to Scotland and playing for either Rangers or Celtic.
"Both atmospheres though I must say now that I am out of it are sensational," he said. “They really are top, top.
"I almost say to myself ‘maybe in hindsight should I have gone up to one of them rather than go to America?’
“But I probably went to American for different reasons."
Gerrard, in an interview with former England team-mate Gary Neville for The Overlap, also opened up on a perceived lack of support from the Ibrox board last summer.
He left Rangers for Aston Villa in November, leaving the club with a six-point lead in this season's title race having steered them to their first league title in over a decade last term.
His major disappointment was the failure to qualify for the Champions League group stages following the play-off defeat to Malmo and while praising the Rangers board for their support, he felt they could have pushed the boat out further.
He said: "Rangers are a fantastic club, the support I had from the fans, from the board and everyone connected to the club, I couldn't really ask for anything more.
"Okay after we won it, maybe I would have wanted a bit more 'come on, let's go again'. 'Let's really go for it after we won it'.
"I think everybody had different challenges, Covid issues, so I totally understand it but I'm very much someone when you achieve something it is lets go again, lets go again'.
"We tried, we couldn't qualify for the Champions League, that is obviously on me, we had some issues at the time with certain players and took a while getting in targets that we wanted and had to compromise.
"But up until we left, I left them in front and I am sure that Gio [van Bronckhorst] appreciates the squad we left.
“I still believe now Rangers have got a fantastic chance to build on what we did there.”