The Reds playmaker has proven to become a pivotal player in the side.
And Jurgen Klopp certainly felt the effect of his absence when Philippe Coutinho was sidelined through injury in December.
The Brazil international, who arrived on Merseyside in 2013 for £8.5million from Inter Milan, has been crowned Liverpool Fans Player of the Year and Liverpool Players’ Player of the Year in each of the past two seasons.
His form has attracted interest from La Liga giants Barcelona, sparking fears from Liverpool supporters over the future of their key man.
Philippe Coutinho has scored 35 goals for Liverpool since arriving midway through the 2012/13 season
Owners Fenway Sports Group recognise the value of the 24-year-old to Liverpool
But according to The Telegraph, the club have moved to tie Coutinho down long-term.
Owners Fenway Sports Group recognise the value of the 24-year-old to Liverpool.
While Coutinho still has three years to run on his current contract, the club have decided to start discussions with him about an extension.
Philippe Coutinho has a good relationship with Liverpool boss Jurgen Klopp
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Jurgen Klopp is currently building Philippe Coutinho back up to full fitness at Liverpool
The attacking midfielder has spoken of his happiness at Liverpool and good relationship with Klopp, so is expected to pen a new deal.
And looking ahead for the rest of the season, Coutinho will play a major role in Liverpool’s success with a title charge still on along with chances of winning trophies.
Klopp has been building up his match fitness since returning to the fold following his ankle injury, and Coutinho could start in their EFL Cup semi-final second leg with Southampton tomorrow night (7.45pm) at Anfield.