Livermore, 22, broke into the first team for the first time this season and has made 17 starts for the club. The youngster operates primarily as a defensive midfielder and is being touted as a player for the future and a potential England international by manager Harry Redknapp.
The midfielder played against Liverpool in February and the two sides were unable to break the deadlock after the end of 90 minutes. Luis Suarez also made his return to the Liverpool squad that day as he had just completed the eight-match ban received for being found guilty of racially abusing Manchester United's Patrice Evra last year.
Livermore gave a belated yet glowing review of Gerrard's performance in that encounter and revealed his admiration for the 31-year-old Reds captain when speaking to the club website.
"I think Gerrard is probably the one [who I couldn't challenge].
"He had a lot of the ball up at Anfield and it was a great game to play in because we dug in and got a point in difficult circumstances.
"The manager wasn't there for the game and it was all a bit hurried and no one knew the team until late and to our credit we ended up going there and getting a decent point.
"But Gerrard in that game, it was probably one of the games where I often thought, ‘wow'."
He also rates his fellow team-mate Scott Parker as one of the best midfielders in the league. He believes that he has learnt a lot from Parker and he is finding his nascent Premier League experience invaluable in improving his abilities.
When asked about what he has learnt from observing the England captain in action, he said: "I think just the timing of closing down, the timing of pressing and when to sit off and get into a shape.
"They're little things you pick up on, little things that perhaps you can't put your finger on and explain, but training alongside him and all the other players as well, day-in day-out, I think that's the best way to learn now.
"You get to a stage where you can't really be coached too much [and] pick up things subconsciously from playing against other players, like your Steven Gerrards. You see their movement and they're just finishing touches to make the player the player he is.
And despite Spurs struggling of late, the Englishman believes that Redknapp has forged a strong unit that is capable of achieving a top-four finish and he thinks that his side is capable of challenging for the title in the coming seasons.
"We've got a great English or British core, a young English and British core and I think as a club we're going in the right direction, we're growing each year as players.
"Gareth keeps getting better and better and Kyle has come on leaps and bounds this year, he's been great this season and Sandro has been great as well and he's a full Brazilian international.
"We've got quality and youth all over the side and I think growing as a team together, almost like Manchester United have done over the past years will be beneficial.
"The manager is getting himself a squad that he's happy working with and the squad are more than happy to play together."
Tottenham next play Queens Park Rangers on Saturday and the Lilywhites are currently five points behind Arsenal in the Premier League table. Newcastle and Chelsea are close behind, however, and so they need to secure maximum points from their remaining five games in order to ensure qualification to the Champions League.