And SportTimes understands a swoop for attacking midfielder Ejaria is now imminent.
Gerrard's other target is striker Solanke, who Klopp may be less willing to allow to leave given Liverpool's lack of similar options up top.
Gerrard - who is bidding to end Celtic's dominance in Scotland - has secured the services of Scott Arfield, Allan McGregor and Jamie Murphy.
The 20-year-old spent last season on loan at Championship strugglers Sunderland where he made 11 appearances and with first-team opportunities no more likely next term, Jurgen Klopp should approve of another temporary spell.
An Under-20 World Cup victor with England last summer, he started just five Premier League games under Jurgen Klopp and made 21 substitute appearances.
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He is to get more experience away from Liverpool this season, with former Liverpool Under 18 boss Gerrard drafting in the England Under 21 worldwide.
The 38-year-old Liverpool legend has already completed three signings since being unveiled at Rangers exactly one month ago.
The England U21 worldwide could be joined by Liverpool teammate Dominic Solanke. I've enjoyed my first season.
'He is a legend, ' said the former Chelsea youngster.
Hodson is well out of the picture at Ibrox and despite having played on either flank as a full-back since moving north from MK Dons, Graeme Murty opted to go with Andy Halliday at left-back in the final games of the season with Declan John and Lee Wallace both out. I'm intrigued to see how he does'. You know what football is like with the amount of speculation.
Gerrard is eager for Rangers to make an impact in the Europa League and Liverpool are helping him out by agreeing to send Ejaria on loan.