The former England and Liverpool midfielder was briefly linked to the job following Rafa Bentiez's departure after choosing not to renew his contract.
When asked about the speculation linking him with Newcastle, Gerrard said: “Fake news. Not that I’m aware of.”
Newcastle have been looking in Europe and talking to contacts linked with prospective managers following Benitez’s decision to leave the club at the end of the season.
Benitez said he felt like the “belonged” to the club after consolidating Premier League safety in consecutive seasons following promotion, but said the club “did not share his vision”.
“It became increasingly clear to me that those at the top of the club did not share the same vision,” he said before accepting a £12m-a-year offer to take over as manager at Chinese Super League club Dalian Yifang.
Manchester City assistant manager Mikel Arteta is the favourite to take over, but after almost getting the Arsenal job when Arsene Wenger left, he is likely to hold out until he receives an offer from a club playing European football.
Garry Monk, David Moyes, Roberto Martinez and Claudio Ranieri are among a long list of names linked with the job.
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