Gerrard is understood to have agreed in principle a new deal stretching to 2024 and the former Liverpool captain says an announcement will be made soon.
New one-year agreements for goalkeeper Allan McGregor, midfielder Steven Davis and Jermain Defoe are also close to being finalised.
Gerrard - who missed out on winning his first trophy as a manager with Sunday's Betfred Cup final defeat - said: "Allan McGregor and Steven Davis' deals are imminent.
"They are very close and will probably be announced after tomorrow's game. They're all agreed. They are two players I want around on a year extension on top of this year."
Gerrard added: "I'm very grateful for the opportunity to manage and lead this football club.
"I've enjoyed my time here. I think we're going in the right direction. If you're happy then why not? That's my motto.
"I believe in these players, I believe in the club and the direction it's going. On the evidence of the weekend, I believe if we keep doing the right things and work hard, our day will come."
Helander and Davis out of Young Boys clash
Gerrard also confirmed that Davis and Swedish centre-back Filip Helander would miss Thursday night's crunch Europa League clash with Young Boys.
The Northern Ireland international missed the Betfred Cup Final and will sit out the final group game but is expected to be back in action before too long.
Helander was replaced late on during Sunday's final with a foot injury and hasn't recovered in time to face the Swiss side at Ibrox tomorrow.
Gerrard said: "Helander won't be available, he had a scan on his foot today. Davis won't make tomorrow but won't be too far away.
"Jordan Jones isn't available for selection but played 60 minutes yesterday and is getting close."
The winger hasn't featured since his horror challenge on Celtic defender Moritz Bauer during the last Old Firm game. The former Kilmarnock attacker was sent off and ended up on crutches after injuring himself in the challenge.
The Light Blues boss is hopeful defender George Edmundson will be fit for inclusion in the squad despite missing training on Wednesday through illness.