The FA Cup victory of 2006, in which Gerrard famously played a pivotal role, was the last time the Reds lifted silverware.
They featured in the Champions League final the following year but lost to AC Milan.
Gerrard would like nothing more than for his first time of leading the side out at Wembley on Sunday in the Carling Cup final to end with a trophy.
"It is massive. Everyone at the club have done a fantastic job to get us to Wembley," he told LFC TV.
"Now we have to go do the difficult part and go beat Cardiff.
"It has been too long since we last got to a major final at Wembley (16 years) and to a major final domestically in 2006.
"It is time we delivered as players and put a cup in the cabinet."
Gerrard's cousin Anthony will be in opposition on Sunday but the Liverpool captain is determined to come out on top in the family battle.
"I hope it goes well for Anthony on the day but at the final whistle I hope he is disappointed," added the England midfielder.
Carling Cup Final Facts
* Liverpool are playing in a record 11th League Cup final, having won the trophy a record seven times.
* The two sides have met only once in the League Cup in October 2007, which Liverpool won 2-1. From that team only Steven Gerrard, Jamie Carragher, Fabio Aurelio and Lucas Leiva remain at Anfield.
* In three cup meetings in their history Cardiff have the advantage thanks to two FA Cup victories. All three matches finished 2-1.
* Liverpool have scored in 43 of the last 44 League Cup matches - their only blank coming at Chelsea in December 2007.
* Victory for the Reds would make Kenny Dalglish only the third manager after Sir Alex Ferguson and Jose Mourinho, to win all three major domestic English trophies.
* All of Liverpool's League Cup final victories have come when the League Cup has been sponsored by a drinks manufacturer (Milk Marketing Board 1981-84), Coca-Cola 1995 and Worthington's in 2001 and 2003).
* Cardiff have reached their fourth major domestic cup final and will make their second final appearance in five seasons at Wembley.
* Only Kevin McNaughton, Peter Whittingham and Stephen McPhail remain from the team which lost the 2008 FA Cup final at Wembley.
* In a sequence stretching back to 1953 Cardiff have won eight of the last 10 meetings with Liverpool in all competitions, and of 29 games in all Cardiff have won 18 times to Liverpool's nine.
* Only five times previously has a lower-division side lifted the trophy - Norwich (1962), QPR (1967), Swindon (1969), Aston Villa (1975) and Sheffield Wednesday (1991) - with QPR, Swindon and Wednesday all defeating top-flight opponents.