Three points separate Spurs from fourth-placed Liverpool as the race for a Champions League position hots up.
And despite seeing his side thrash Newcastle 4-0 at St James' Park, Sherwood accepts the Reds remain favourites.
However, the Tottenham boss insists the North London outfit will not give up on catching Liverpool.
"It's very tight," Sherwood said. "I see it going down to the last month of the season, that's for sure.
