The 52-year-old’s initial contract was due to expire in the summer of 2022 and this extension has quashed any speculation over his future.
Klopp’s assistants, Peter Krawietz and Pep Lijnders, have also agreed new deal until 2024.
The former Borussia Dortmund manager was appointed Liverpool head coach in October 2015 following the dismissal of Brendan Rogers and has since brought success back to the red side of Merseyside.
Since his arrival at Anfield, the German has guided the Reds to three European final, including a back-to-back Champions League finals, where Liverpool eventually won one by beating Tottenham Hotspur.
Liverpool are eight points clear at the top of the League table this season, and have qualified for the next round of the Champions League after topping their group.
“For me personally this is a statement of intent, one which is built on my knowledge of what we as a partnership have achieved so far and what is still there for us to achieve,” Klopp said after his contract extension
“When I see the development of the club and the collaborative work that continues to take place, I feel my contribution can only grow.”
He added: “People see what happens on the pitch as a measure of our progress and although it is the best measure, it’s not the only measure.”
“I have seen the commitment from ownership through to every aspect and function of the club you can think of.
“When the call came in autumn 2015, I felt we were perfect for each other; if anything, now I feel I underestimated that.”
“It is only with a total belief that the collaboration remains totally complementary on both sides that I am able to make this commitment to 2024.
“If I didn’t I would not be re-signing. This club is in such a good place, I couldn’t contemplate leaving.”
