Smith was dismissed from his duties on Sunday following his fifth successive defeat that leaves Villa just two points above the relegation zone, despite their summer spending.
According to the Telegraph, Villa are “considering Gerrard and Ralph Hasenhuttl” for the top job, while Roberto Martinez, Lucien Favre and Kasper Hjulmand are also said to be in the mix.
Gerrard has impressed in his first job in senior management having guided Rangers to their first title in 10 years last season and Villa is the third Premier League club to be linked following Newcastle and a shock name-check with Everton.
Gerrard has previously worked with Villa CEO Christian Purslow following his time as managing director at Liverpool and the club could be deemed a fit for the former Reds captain.
It would certainly act as another valuable stepping stone in his management career but Gerrard has already dismissed speculation of a move when noise of Newcastle‘s interest emerged.
“Do I look happy? Do I look settled? Don’t ask me silly questions then,” was his response when asked what he would say to those linking him with a move away from Ibrox back in October.
He is certainly embracing the job he has on his hands at Rangers and prying him away looks to be no easy feat with a second title in as many years a real possibility.
Rangers are currently four points ahead at the top of the Scottish Premiership as they look to defend their title.
The long-held onto thought remains that Gerrard could one day take the helm at Anfield but experiences elsewhere in the division suggest further learning curves will be key should the day ever arrive.