Liverpool announced today the Brazilian had signed an extension on his contract which will come into effect from July 1, 2017.
Coutinho becomes Liverpool's highest paid player on around £150,000-a-week.
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But the 24-year-old says the supporters and his family played were key to his decision.
He told Liverpoolfc.com: “Ever since my arrival here, I was welcomed with open arms by the supporters – and everyone at this football club.
Jurgen Klopp shakes hands with Philippe Coutinho
“This is an important factor that carries weight when you decide to remain here for a longer period – and this did have a lot of weight when I thought about the renewal of my contract.
“I can only thank every supporter for their faith in me. I really hope to repay them. I will do my very best on the pitch to create assists for my teammates and score goals for us to try and win trophies and titles.
“It’s not just me – since me and my family arrived here we have been welcomed with open arms by everyone. We feel at home in this city, we feel a part of this city. It is a very important day for me, my wife and my daughter. I am happy – and everyone is happy at home!”
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