Liverpool have won just one of their last seven matches in all competitions following their 1-1 draw against Newcastle at the weekend.
Their recent form has seen Klopp come under pressure for conceivably the first time since he took over at Anfield two years ago.
Being knocked out of the Carabao Cup did not help the cause and they are yet to win in the Champions League.
But Liverpool legend Gerrard insists he still believes Klopp is the right man to deliver on Merseyside and believes the season is not a complete write-off yet.
“The league doesn’t lie – Liverpool are where they are,” Gerrard told Sky Sports.
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“But what I would say is I am really enjoying watching the team at the moment.
“I love the manager. I think he has taken this team and the club forward. There is a lot of excitement about.
“I can see Jurgen is a little bit frustrated at the moment but so are we all. We are all fans.
“Of course, it could have been a little bit better if chances had gone in or individual errors could have been avoided.
“But we are seven games in and Liverpool are capable of going on a long run of winning games.
“I am very, very confident that this season can be a success, whether that be in the league or in Europe or the FA Cup.
“I am a big, big believer in this manager.”