Speaking exclusively to Football Insider, the ex-Aston Villa and England attacker insisted Gerrard “looks happy” at Ibrox and will not leave unless a perfect job comes up.
A Newcastle source told Football Insider (October 12) the Englishman was part of a three-man shortlist to replace Steve Bruce.
It is understood the Saudi-backed ownership is also looking at Leicester City’s Brendan Rodgers and Rafa Benitez who took over at Everton over the summer.
Newcastle finally parted company with Bruce earlier this week and his assistant Graham Jones is now in temporary charge.
Asked whether Rangers should be worried about Gerrard considering his future, Agbonlahor told Football Insider correspondent Connor Whitley: “Gerrard is always going to be linked with jobs because he’s done an outstanding job at Rangers and he’s a footballing legend.
“There’s always going to be linked with jobs. He’s not going to stay at Rangers for the rest of his managerial career.
“It will get to the stage where he’s going to leave, that will happen one day. I’m sure that he will make the right move. That might not be now but it will be in the future.
“He looks happy at Rangers, I’m sure he’ll stay there.”
Gerrard has been in charge of Rangers since the summer of 2018 and has a win rate of 64.5 per cent across all competitions.
He led the Glasgow giants to a historic 55th title with an unbeaten campaign last season.