Dejan Lovren has signed a new long-term contract at Liverpool that sources have told ESPN FC runs until 2021.
The 27-year-old centre-back, who joined the club from Southampton in 2014, has made 105 appearances for the Merseyside club to date.
Sources added that the deal was worth in the region of £100,000 a week.
Both of Lovren's Premier League goals for Jurgen Klopp's side have come this season -- in the 2-1 win at Chelsea in Sept. 16 and the 4-2 victory at Crystal Palace on Oct. 29.
The Croatia international told Liverpool's official website: "I think this is one special day for me and my family.
"I think I am the happiest guy [in the world] today, it's another dream come true. It was always my dream to stay as long as possible at one club that I love -- and that is Liverpool.
✍ Liverpool FC can today announce Dejan Lovren has signed a new long-term contract with the club.
More: https://t.co/8v71WdkTiQ pic.twitter.com/Lj4x4BAA46
- Liverpool FC (@LFC) April 28, 2017
"After all that happened in the beginning, in the last two seasons I think I've done better than in the first season. The club has rewarded me, they believed in me and also the fans, and this is what I respect a lot after everything that happened.
"I am pleased with everything and I just want to stay here as long as possible and be a part of this family for many, many years to come."
Lovren missed last summer's European Championship, following a disagreement with Croatia manager Ante Caci, but has since returned to his national side for their 2018 World Cup qualifying campaign.
Klopp told a news conference later on Friday that he is "very happy" with the news, but acknowledged that the centre-back needs to become more consistent following a poor performance on the weekend.
"I know how football supporters think," he said. "If you would have asked them after the [Borussia] Dortmund game [last April where he scored a dramatic winner] they would have said: 'Give him a 20-year contract'.
"And then when you see the Crystal Palace game, you think: 'Can we find another team that would have him?'.
"The truth is in between, if you want. In a situation like this, you really have to look on the outside.
"If Dejan would play for another club, you would think about signing him and then you would have to think about what you would have to pay for him -- and it would be a big number of money. He is 27 years old -- the best time for a centre-back is still to come.
"I heard about how he had a difficult start at Liverpool but, meanwhile, he has really settled. That's really good.
"He's physically strong, he's quick, a good footballer -- sometimes [his] decision-making could be better. That's how it is.
"Nobody out there is a perfect. We really think he can help us a lot and we can help him in a few decisive parts of his game. That's what we want to do and that's really good."
ESPN FC's Liverpool correspondent Glenn Price contributed to this report