Elliott, who can play as a midfielder or winger, missed a large part of the 2021-22 season through injury.

"There is nothing in this world that makes me more happy and more excited than this," said Elliott.

"It's always nice to know that I'm going to be here for many more years, which is always a great thing with it being my boyhood club."

Elliott has been capped three times for England at under-21 level but is yet to receive a call-up to the senior team.

He progressed though Fulham's academy before signing for Liverpool in 2019.

Elliott came on as a substitute in Liverpool's 2-2 draw at Fulham last Saturday in their first league game of the season.