Houllier said: "You would have to cut off both my arms before I let go of Steven Gerrard because I would have them both wrapped around him," said Houllier today.
"He is irreplaceable. We have big plans for him here to take him up to an even higher level.
"I want him to not only become player of the year in England but he has every chance to be European and World player of the year in the future as well.
"Lothar Matthaus acheived that as a central midfielder and so can Steven. He's my captain and that tells you everything you need to know about what I think about him.
"Everyone knows what he thinks of the club too."