After putting pen to paper on a deal keeping him at Anfield until 2011, the defender spoke of his hopes of completing his medal collection.
No-one will be monitoring the club's pre-season transfer activity more closely than Carragher, who makes a comparison now to that of the summer of 2002.
"It's a very similar situation," said Carragher. "Gerard Houllier had done really well for three years and that was the summer everyone was looking for us to push on, but unfortunately it didn't work out.
"When a manager first comes to a club, no-one can expect to win the title straight way but by the second or third year you hope to have built the foundations of a team that can challenge.
"I think we had that then and we've got that now, and this is where we'll be looking to do more.
"Rafa has done brilliantly well since he came here but it's fair to say everyone will be looking for us to close that gap at the top now.
"That last step is always the hardest. If we don't improve from this point we'll just go sideways rather than upwards and that's not going to be good enough if we're going to challenge Manchester United and Chelsea.
"It's harder than I can ever remember as a player or supporter to win the league.
"Chelsea and United have raised the level, and the top four managers are probably the best four managers in the world."
With United already spending £50m there are already signs of despondency with Liverpool's lack of transfer activity. Carragher, however, is prepared to be patient in the hope the right purchases will be made.
"There's no point worrying what other clubs are doing, we've just got to look after ourselves," said Carragher.
"Just because you spend big money on someone it doesn't guarantee it's a great signing. Look at Veron.
"I'm sure that come August 11 the manager will have done everything he can to bring the right players here and we'll have done everything we can as a club to make that happen.
"The club couldn't have done much more over the last few years because we've done everything apart from win the league. I'm desperate to do that over the course of this contract and I know everyone else here feels the same."
Meanwhile, Benitez and Rick Parry welcomed news of the twin contract signings.
"These deals send out a key message as we enter a crucial period," said Benitez. "Other players will look at Stevie and Carra committing their future to Liverpool and understand that this means we are determined to progress on the pitch."
Chief executive Parry added: "It was a priority for us to get two of our most important players - and two local players - signed up to new contracts.
"It's a very positive statement we feel and sends out an important message.
"There's a lot of work - an awful lot of work - going on in the background. It's important we get the right players and there will be a lot of activity at the club to come but we're delighted to see Steven and Jamie sign these contracts."