The Rangers boss has a major decision to make on who he starts up front, with Morelos available again after his four-game ban but Defoe on form with three goals in his last five games.
But Gerrard has confirmed the rejuvenated Steven Davis will be the first name on his teamsheet.
Neil Lennon, meanwhile, has handed Celtic a target of 90 Premiership points ahead of the Old Firm clash at Ibrox.
The Hoops moved on to 84 points last week with a 3-0 win at Aberdeen which clinched an eighth successive title.
Rangers vs Celtic TV channel: Find out how to watch the action (Image: GETTY)
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Lennon said: "I don't think the players need any motivation for this game. The fixture takes care of itself. There is a lot of build-up to it.
"We were more concerned with winning the league. It was hugely important for the club and we have the big one in the trophy cabinet again and we can look forward to the remaining games and obviously we have a huge cup final to look forward to at the end of the season.
"I would like us to finish on 90 points. At the minute we are on 84 and we have two games to try to get that and that's what we're going to try and do. I'm excited, looking forward to it. We go into the game as champions.
"We're on great form and Rangers are as well. It's a game everyone is looking forward to, no more than myself. It's been a while since I was at Ibrox with Celtic so it is always a good occasion to look forward to."
Celtic: Neil Lennon’s side train ahead of Old Firm derby
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Rangers v Celtic TV channel: How will the match unfold? (Image: GETTY)
Rangers v Celtic TV channel - how to watch
The Scottish Premiership clash kicks off at 12pm today.
Live television coverage can be found on Sky Sports Main Event.
Existing customers can also stream the action via the Sky Go app, which can be downloaded across a host of devices.
Non-subscription holders can still access the game by purchasing a Sky Sports pass through NOW TV.