Gerrard has been given the armband by current boss Roy Hodgson for this summer's World Cup in Brazil.
He will overtake Alan Shearer and John Terry to become the fifth longest-serving England skipper - in terms of matches - when he leads the side out against Honduras in Miami on Saturday.
Gerrard did captain the side in South Africa four years ago but only because first-choice Rio Ferdinand injured his knee in training.
Terry returned as captain but, when he was stripped of the honour following allegations about his personal life, Capello gave the armband back to Ferdinand.
"Capello didn't believe in me as his number one captain," the midfielder said bluntly.
"He did believe in me as a player, he rated me as a player, and our relationship was fine.
"But at the time we picked the captain, he had Rio Ferdinand and John Terry and he thought they offered something different. I was third-choice up to him.
"This is the second time I've been captain at a World Cup, but this time it's for real."
There is a much stronger belief in Gerrard's leadership skills from the current England coach.
Hodgson named Gerrard as his skipper as soon as he took the job and that has left the 34-year-old confident in his own leadership skills.
"Roy has the confidence in me to be the captain this time," said Gerrard, who was also Liverpool captain under Hodgson.
"I'll enjoy it more as captain rather than vice-captain this time round, of course."
Speaking as a Liverpool fan, I didn't rate Gerrard as a captain for his first few years in the job. Now, it's a different matter - he's relaxed, he's talking to his teammates.- paulonbooks