I've booted the Gentoo live disc and everything works perfectly. I only need to install it onto my hard drive. I looked for an install option but I didn't find it.

Gentoo handbook seems useful, but I wonder if I need to follow all those steps to do something that's already been done perfectly. Isn't there an installer for the live disc?

No. There is no installer for the Gentoo 10.1 Live DVD. You should use a Weekly Minimal Install CD and Stages : http://www.gentoo.org/main/en/where.xml

If you feel like i's too much work, gentoo is not for you. Since the installation part is the easiest, maintaining a gentoo system is tougher. Maybe try something like Arch or Slackware?

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The reason I'm installing Gentoo is because it's harder to use. I've already used Slackware. I'll try to get Gentoo running.

Please don't take my previous post as discouraging, I'd infact encourage you to try out gentoo. It's an experience of it's own. I just wanted to let you know about your other options. Anyway, the best way to install gentoo is to follow the gentoo handbook and also consult this "unofficial" guide which has a quick and dirty method but very less or no explanations.
http://gentoo-install.com/install

Thanks for the positive response! I was midway through the handbook, and I finished creating the partitions and mounting them. Now, I'm at the stage where I'm required to download the stage3 tarball, but I don't want to download anything. I have the Live DVD with me but the Gentoo handbook says the tarball isn't present on it. There's an image.squashfs file which is 2.5GB on the disc. The handbook only tells us how to get the tarball from the internet. I want to know how to use the disc. The handbook says that the tarball isn't provided with the Live DVD.

I mounted the image.squashfs and viewed its contents. It's the root filesystem of the Live CD. I just googled and found information related to copying the root file system to a USB drive. I suppose you could do the same to a hard disk. I multiboot my system with Windows and want to know the procedure for "lifting" the root file system from the disc and "placing" on my hard drive. The Live DVD comes with bootloaders as well. How do I proceed?

I've started a fresh thread for this.