McGregor produced a breathtaking save to keep out a 90th minute header from Slavia substitute Lukas Masopust and give Rangers the advantage going into the second leg of the Europa League round of 16 tie at Ibrox next Thursday.
Gerrard remains hopeful McGregor will extend his playing career as the 39-year-old, who is out of contract in the summer, continues to consider his options.
“I’ve spoken about it before, how much we rate Allan, how much we love him here, how much we want him to carry on,” said Gerrard.
“At the same time, I’ve told you guys I will respect him. He knows what’s on the table. He’s in discussions with the club and from where I’m sitting, I just hope we get it over the line and sign him up for another year because he is more than capable.
“I know that on a daily basis by working with him and watching him closely. The decision is going to be down to Allan, not us. Because we certainly want him.
“I thought there were a few big, pivotal moments in the game and opportunities for both sides to get the winner.
“Allan has come big for us again and it is a top, top save to get it back and drag it back into his grasp. It was another world class save.”
Rangers recovered from the loss of a seventh minute Nicolae Stanciu goal for the Czech champions with defender Filip Helander grabbing what could prove to be a vital away goal for the newly crowned Premiership champions.
“At this stage of the competition it is always important, especially when you are away first, to try and take something from the game and to get an away goal and so to get back in the game is a huge positive.
“We will have a lot more quieter week to rest and recoup and it helps us not having a game at the weekend. We need to be at our maximum both physically and technically next week to get this job done. We are up against a really good side and you can see tonight why they are at this level as well.
“We were coming up against a team with a fantastic home record, domestically unbeaten. So we knew the challenge was very big against a powerful team who like to play at a high intensity.
“We needed to be ready for that but after the week we had, it was quite tough. Credit to the players, they rolled their sleeves up and dug in.
“After a slow start where we were a little bit second best, the players’ performance was really positive from my point of view. We have put the tie in a real good position and that was always the gameplan before a ball was kicked — can we set it up for Ibrox next week?
“Because we know we are a really strong team at home. We have been there before when we have not got off to a good start but we have a group of players who play with no ego and who stick together.”