Juve are expected to sign some big names if they secure a return to the Serie A next season and the England midfielder could be a definite target for Deschamps.
"I would go and fetch Gerrard on a bicycle,” Deschamps told Gazzetta dello Sport.
"In midfield we would need players who are already experienced, physically imposing and with great technique.
Deschamps said that Gerrard could fill the gap left by former Juve midfielder Patrick Vieira.
"Juve must bet on players like him (Gerrard), there are not many players left like him and he confirmed this with a good World Cup.
"He brings a lot to the game, he's able to cross and he's ready to play for a big foreign side."
Deschamps insists that Juventus should bring on reinforcements in order to be able to compete in the Serie A next season.
"We will surprises people with three or four big signings but it will take around four years before we have a really strong side," said the Frenchman.
Juventus have lately been linked with Fiorentina hit-man Luca Toni.
The Italian giants are currently in charge of the Serie B table with 43 points and are expected to make a return to the top flight.