The Brazilian playmaker looks destined to leave Barcelona this month, with the Catalan giants keen to reduce their wage bill after signing Ferran Torres from Manchester City for £55 million.
Gerrard and Coutinho were Liverpool team-mates for two-and-a-half years – the pair coming close to winning the Premier League title at Anfield in 2014 – and Villa have been strongly linked with the 29-year-old amid reported interest from other English clubs.
Asked if he understood such interest in Coutinho, who left Liverpool for Barcelona in a £142m move in January 2018, Gerrard said: “He’s won two league titles at Barcelona, two Copa del Reys.
“If you go and have a look at his Wiki page you’ll see a serial winner wherever he goes.
“He’s won 63 caps for Brazil, played for Barcelona and was incredible at Liverpool.
“So I can understand why he’s linked to a lot of football clubs. I can understand why a lot of supporters up and down the country are speaking about him.
“I don’t think you get a nickname of ‘The Magician’ if you’re not a special footballer.”
Gerrard says he understands transfer speculation around Villa as “it is that time of the season.”
But, speaking to reporters ahead of Villa’s FA Cup third-round trip to Manchester United on Monday, Gerrard added: “[Coutinho] is someone I’ve got an incredible amount of respect for, but I don’t want to add to any speculation because he belongs to Barcelona.
“I’ve got nothing but positive things to say about the player.
“He’s a friend of mine so if I’m asked the questions I can speak for as long as you want. But if you’re trying to link it to any speculation or catch me out you’re in for a long afternoon.
“A lot of names are bandied around and, for the sake of our supporters, when there’s something concrete they’ll be the first to know.”