The former England captain feels that his old club Manchester United and Chelsea aren't quite ready to challenge Liverpool or City at the moment.
When asked for his prediction for the upcoming campaign, Rooney told talkSPORT: "I think it's City or Liverpool.
'Chelsea are making a lot of signings, some good signings. Man United have a lot of potential in the players they have got but I still think they are a year away. I think Chelsea with the new signings will possibly need a year to get everyone on the same song-sheet. So I do think it is between City and Liverpool."
Rooney - now a player-coach at Championship side Derby - feels that the league could swing in Liverpool's favour should they sign Bayern Munich midfielder Thiago Alcantara and feels that the potential transfer would top Lionel Messi joining Manchester City.
He added:" I think if Liverpool get Thiago from Bayern Munich, I think it [the title] is done.
"I think that's a better signing than Messi going to Man City."
Rooney is hopeful that Messi moves to the Premier League after he revealed that he wants to leave Barcelona.
He explained: "I know he's getting older but he's a player who no-one has seen before.
"Messi has everything - he can create goals, score goals, dictate the game and is the best player of all time.
"He's one of the only players I've sat there and watched and been in awe.
"Him and Cristiano Ronaldo have set a standard which I don't think will ever be seen again but, for me, Messi is just different level."