The Reds have tied down one of their best players for the foreseeable future and have rewarded the Brazilian for his excellent form in recent seasons.

Coutinho has been linked with a move to Barcelona in the past few months but Liverpool are determined to do everything they can to ensure his future remains at Anfield.

A source has told ESPN FC that Coutinho's new contract is a five-year deal -- that lasts until 2022 -- and does not include a release clause.

The source added that Coutinho will now become the Reds' highest-paid player, with his weekly wage in the region of £150,000.

The 24-year-old has scored six goals for Jurgen Klopp's side this season and is now fit after recovering from ankle ligament damage.

In November, Klopp spoke about how he is confident he can keep Coutinho and his other best players at the club.

"At this moment I am not worried about anything," the Reds boss said. "The players like to be here and it is our job to make sure it stays like this.

"My opinion is that he feels really well here. We all hope and think that his future is here at Liverpool. It is creating the perspective that no-one wants to leave. That is all it is about.

"If there is a club that can pay double what we pay then I will bring the player there because who am I to say 'no, no, please don't think about the family and the kids and the grandkids and their kids', but I don't know a lot of clubs in the world who are able to do this.

"First of all before we talk about money we have to create an atmosphere in and around the club where no one wants to leave."

Coutinho signed for Liverpool from Inter Milan in 2013 and has since scored 26 goals in 122 Premier League appearances.