He missed last Saturday's 1-1 draw at Stoke and the 2-0 midweek victory over Tottenham but is set to return sooner than expected.
Liverpool are not in action this weekend with it being the FA Cup fourth round and the players were given a couple of days off to recover after the confidence-boosting Spurs win but are due back at Melwood tomorrow.
Gerrard thinks he can be ready for Tuesday's trip to Wolves but Bolton at home the following weekend is a more likely prospect as manager Rafael Benitez is unlikely to want to risk bringing back his captain too early.
"I'm hoping to return in time for the Wolves game next week, that's my target," Gerrard wrote in his programme notes for the Spurs match.
"It's always a nightmare for me when I'm injured and I can't help the team."
Former Liverpool midfielder Jan Molby accepts Gerrard's absence - as well as that of a number of key players - has impacted on the club's season but believes the rest of the squad are learning to play without their major stars.
"When you lose Gerrard and Fernando Torres - two of the world's best players - it's always going to be felt, not to mention the likes of Glen Johnson, Yossi Benayoun, Albert Riera and Daniel Agger," said the Dane.
"We have to be glad we've got a big squad and players have been able to come in and do a job.
"They've shown we can cope and gain points while key men are sidelined."
Source: Telegraph
Source: Telegraph