The agreement is yet to be signed and confirmed but Mané will put pen to paper before the end of 2018.
It is understood that the Senegal international’s new contract will run until 2023, whereas his previous terms were set to expire in 2021.
“I am very happy, very happy to extend my time at Liverpool,” Mané told Liverpool’s official website.
“It is a great day for me and now I am looking forward to everything – to helping the team, to helping the club achieve our dreams and, especially, to win trophies.
“I’ve always said, when I knew I had a chance to come here I didn’t have to think twice. The right club in the right moment and with the right coach as well. I came here and was very happy.
“For me, I have made the best decision in my career.”
Mané joined Liverpool from Southampton in 2016 in a £34million deal and has established himself as a integral player under Jürgen Klopp.
The 26-year-old has scored 40 goals in 89 appearances, including a goal in May’s Champions League final defeat to Real Madrid.
Like his fellow forwards Salah and Firmino, Mané has been linked with a move away from Merseyside but has now committed himself to Anfield in the long term.
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