Gerrard said: "I wouldn't be signing a long-term contract if I didn't feel we had the squad and the ability to be challenging for honours. I want to be going for the title and the Champions League.
"I'm a Liverpool boy and I don't want to leave the club. I want to help this club become successful again and to be here, playing my part, when it is."
While Gerrard's lucrative contract remains unsigned, speculation will continue to link the England star with a move to Roman Abramovich's expensively-assembled Chelsea side. The player himself, though, insists he has no interest in making the move to the capital.
He added: "It was an eye-opener in the summer, picking up the paper every day and finding a new player had gone there. I was thinking, 'How are they going to keep them all happy? Whose going to put up with not playing in the big games?'
"I wouldn't be happy, playing one game and not knowing where I stood for the next. I'm sure that if all their players were honest, they'd say they hate that. I love staying fit and trying to get better with every game. If I played two then missed two, I'm not sure that I could maintain consistency."