BBC Sports reports that, Liverpool forward Philippe Coutinho, has signed a new five-year contract worth about £150,000 a week, making him the highest-paid player at the club.
The 24-year-old Brazil international joined the Reds from Inter Milan for £8.5m in January 2013, and his new deal will take him through to 2022.
Coutinho has scored 34 goals in 163 appearances for Liverpool.
“It is a club that I am very grateful to and this shows my happiness here,” he told the club’s website.
There is no release clause in Coutinho’s new contract, the terms of which come into effect from 1 July.
Coutinho, who had been linked with a move to Spanish champions Barcelona, added: “I signed this new contract to stay here for a few more years because it’s a great honour for me.
“It gives me great happiness because I was welcomed here with open arms by everyone at the club and the supporters, right from my first day.”
Coutinho was brought to Anfield by former manager Brendan Rodgers, with Southampton also interested in signing him at the time.
He has established himself as one of the Reds’ key players during his four years at Anfield.
Liverpool manager Jurgen Klopp believes his decision to sign a new long-term contract sends out a “big statement”.
“This is wonderful news,” said Klopp, whose side are fourth in the Premier League, 10 points behind leaders Chelsea.
“He is truly world class – in that very top bracket. He knows he can fulfil his dreams and ambitions here at Liverpool.”
Coutinho has recently returned from an ankle injury, prior to which he had scored six goals in 14 appearances this season.
Analysis by BBC Sport: Coutinho’s ability to create and score goals has not only brought him adulation at Anfield and more recognition at international level with Brazil, it also brought him to the attention of the likes of Barcelona.
Liverpool’s move to secure Coutinho is not only a coup for Klopp and the club, but is also a contract without an exit clause, which is a vital component of the deal.
It is a strategy designed to avoid the sort of scenario they faced in 2014 when Luis Suarez signed a new deal at Liverpool in December 2013 that was ultimately only security for when he made a £75m move to Barcelona that summer.
Coutinho has expressed his complete satisfaction at Liverpool and is accompanied by none of the controversies that made Suarez even more likely to leave Liverpool and the Premier League.
Liverpool believe this is one deal that has been signed by a player who is in it for the long haul at Anfield.