Torres will line up against the Reds tomorrow for Chelsea, who spirited him out of Anfield for 50 million pounds in January 2010.
And with Luis Suarez being the new jewel in Liverpool's crown, Rodgers is cautious that the Reds don't repeat what they did about Torres.
"It's the task we face. I don't know what happened with Torres, but times move on and we now have one of the best strikers in the world with Luis. We have to ensure we keep the best players like him," the Daily Mirror quoted Rodgers, as saying.
"Of course, it is hard to compete with the money the big clubs have to spend on the big players. But we can't just give up because we are not in the same financial league as other clubs. It is up to us to find a way of dealing with that," he added.
According to the report, Rodgers believes that Suarez is a world-class talent, who he can build Liverpool 's future around, because the Uruguayan has made clear his desire to stay for the long haul.
"Luis a world class talent, he's up there in that one per cent bracket of world class strikers. There is no team in the world who would not want him in it," he said.
"I wouldn't swap him for any other right now, no. Not when I look at what he gives consistently. This is a guy whose energy is relentless - he is a defender's nightmare," he added. (ANI )