The England international's representatives have been in talks with Liverpool for some time over a new contract.
And The Telegraph claim discussions are now at an advanced stage with Lallana expected to put pen to paper on a new deal worth £150,000 a week.
Lallana's new contract will keep him tied down to the club until 2021.
Adam Lallana is set to sign a new four-year deal with Liverpool
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The news will come as a blow to Spurs, who have been credited with interest in the winger in recent months with Mauricio Pochettino a big fan.
Paris Saint-Germain have also been linked with a move for the 28-year-old with Lallana having 18 months left to run on his current deal.
But Jurgen Klopp has been keen to secure Lallana's future on Merseyside as he sees him as a key part of his plans going forward.
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Adam Lallana will pocket £150,000 a week on his new contract
Jurgen Klopp wants Adam Lallana to be part of his future plans
Despite struggling to find his feet an Anfield following his £25m move from Southampton in 2014 under Brendan Rodgers, Klopp's style of football has seen Lallana shine.
The winger's new deal follows that of Philippe Coutinho, who signed a new five-year contract last month.