Bitter rivals Manchester United will join the Reds on 18 titles if they finish top of the Barclays Premier League this season, but Rush is adamant the race is far from over yet, with Sir Alex Ferguson's side still having to play Arsenal and Manchester City in their remaining five games.
Rush, whose goal against QPR on April 28, 1990 secured that year's First Division championship, wrote in his Liverpool Echo column: "I genuinely do not believe this title race is over. United have to face a derby match still.
"If Liverpool were ahead in the title race, the last thing they would want is a derby against Everton.
But United have to face Manchester City plus an Arsenal side on a 20-match unbeaten run.
"All Liverpool can do is keep taking points and not worry about United.
"Liverpool are back at Anfield this weekend with a good chance of another three points (against Newcastle).
"Everyone remembers earlier this season when Liverpool did a demolition job on Newcastle at St James' Park when a 5-1 win could have been 10.
"I do not want Newcastle to go down having played for them, but like every Liverpool fan I want them beaten on Sunday.
"Because if Liverpool can keep winning there will be twists and turns in this race yet, believe me."
On this day 19 years ago, Roy Wegerle put QPR ahead but Rush equalised before the break and the newly-crowned Footballer of the Year, John Barnes, netted the penalty winner.
Few there that day would have believed that Liverpool would go almost two decades without winning the title again, and in that time the best they have managed is two runners-up spots in 1990-91 and 2001-02.
For Liverpool to catch United now, who are three points clear with a game in hand, they must pray for Sir Alex Ferguson's side to slip up in a minimum of two of their final five matches.
Rush would like to see Liverpool rediscover their defensive qualities to make sure they at least win their last four league games this term.
He said: "There is no such thing as a bad victory, so the three points at Hull were very welcome after those draws against Chelsea and Arsenal.
"But rest assured there will still be concern at Anfield at some elements of the defending just now.
"The goal Geovanni scored when Hull were down to 10 men on Saturday will have raised eyebrows. It wasn't a good one from Liverpool's viewpoint and followed a few recently which have been partly down to individual errors.
"The Reds will be desperate to put this right. Restoring the clean sheets is a priority and they have been renowned for defensive solidity under Rafa Benitez.
"For me it is all about getting back to basics. That means players not losing concentration and the back four focusing simply on stopping the opposition.
"Everyone likes to see good football being played from the back but sometimes you have to accept that if a ball belongs in Row Z, then that is where it must go."
There is also still confidence at Anfield as they prepare to face a Newcastle side on Sunday who are stuck in the bottom three under temporary boss Alan Shearer.
If United win at Middlesbrough, another side in relegation trouble, on Saturday, the lead will be a formidable six points.