Gerrard left his position as Al-Ettifaq manager in the Saudi Pro League and is currently a free agent. He previously led Rangers to a Premiership title before moving to Aston Villa in the Premier League.
The club is also looking at other candidates, including Russell Martin, a former Southampton manager who is also a free agent. Additionally, Tottenham assistant coach Ryan Mason and former Luton boss Rob Edwards are on the shortlist.
Caretaker manager Barry Ferguson will not continue in his role, according to the club's plans.