The duo sat out Saturday's Barclays Premier League defeat to Sunderland after failing to recover from knocks sustained while on international duty.
However, Gerrard trained with his teammates at Melwood this morning and will be included in the squad for the clash with Les Gones.
The boss told a pre-match press conference at Anfield: "Steven is fit. He has been training so hopefully he will be available tomorrow.
"It is important as we have had some problems with injuries since the start of the season, so having Gerrard fit is a big boost for us."
Meanwhile, though Torres will sit out the fixture with Lyon, the boss is hopeful he'll be able to call on the services of the Reds' No.9 for Sunday's meeting with Manchester United.
Benitez added: "Torres is still not ready. Hopefully he will be for the weekend, but not for this game."
Having had several players pick up injuries while on international duty, the manager believes Liverpool's season has been disrupted by injury worries - but he is confident fans will see a much improved Reds side over the coming week as his squad returns to full fitness.
"The problem is that some of the players were not available in pre-season and afterwards at the start of the season," he said.
"I am happy with the squad and they are working very hard. We have some quality, but also some injuries so if everybody is fit, we have a good squad.
"The majority of the players are the same as last season. We had 86 points last year and I think we will be in a similar situation if we start playing well.
"Hopefully we can get everybody fit and we can start playing better and winning games."
The news of Gerrard's return comes as a boost to Liverpool as the Reds prepare for two important home fixtures with Lyon and Manchester United this week.
However, Benitez believes his players cannot allow themselves to look beyond the meeting with Claude Puel's men.
He said: "Every game is an important game for us, so we cannot think about the second one. We want to win tomorrow and that's it.
"We have to play against Lyon and if we beat them, it will be a different situation on Wednesday. So we have to concentrate just on this game."
Lyon arrive at Anfield having suffered their first defeat of the season at home to Sochaux on Saturday.
However, the Ligue 1 side have been the dominant force in French football over the last decade and though they may not have been able to transfer that superiority to the European stage, Benitez is well aware they will be a difficult proposition for his charges.
"We know Lyon are a good team," said the Spaniard. "They have good players and experience in the Champions League, so it will be a tough game.
"We have had some scouts watching their games, so we know they are a very good team who are well organised. It will be tough game for us and if they progress in the competition, they will be tough for anyone.
"Again I will say, we are talking about a good team with quality and experience in the Champions League, and they will have extra motivation. Hopefully it will be extra motivation for our players too and an interesting game."