The 32-year-old had a poor start to the previous campaign, mirroring the club's early problems, and looked a shadow of his former self.
However, as the season progressed he rediscovered the form which has made him one of the most consistent defenders of his generation.
But with the arrival of new manager Roy Hodgson - and teenage centre-back Danny Wilson from Rangers - the former England international knows his reputation will count for little if he cannot back it up with performances.
"You never know what might happen," said Carragher. "Last year after a few games, the whole world had written me off and said I was finished.
"But in the second half of the season, along with Javier Mascherano and Pepe (Reina), I was probably one of the most consistent players and when you look at how the defence played, we managed to keep 18 clean sheets."
Source: PA