Inter boss Jose Mourinho has been an admirer of Gerrard since his time in charge of Chelsea and has urged the money men at the Italian champions to get a head start on negotiations if Liverpool's season ends in disappointment.
The Reds failed to reach the knockout stages of the Champions League this time around and are sitting eighth in the Premier League - 15 points behind leaders Chelsea and seven off fourth place.
Anfield skipper Gerrard has become increasingly frustrated as his side has struggled for form and, according to Italian newspaper Corriere dello Sport, the England international will top the list when Inter look to strengthen their midfield in the summer.
Failure to finish in the top four of the Barclays Premier League will compound Liverpool's financial woes and could force them to cash in on the likes of 29-year-old Gerrard.
Spanish giants Real Madrid and Barcelona are also reported to be monitoring the situation and would provide Inter with stiff competition for Gerrard's signature.
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