Following months of negotiations between sporting director Richard Hughes and his representatives, the Hungary international has put pen to paper in what is a huge boost for the Reds.
Szoboszlai scored a career-best 13 goals in all competitions last season as he was named the Reds' Player of the Season despite the club’s dire, trophyless campaign.
In 147 appearances for the club so far, Szoboszlai has scored 28 goals and laid on 26 assists. He is by far one of the most influential players in the side and as new manager Andoni Iraola steps in, tying him down will have been a major goal.
Transfer expert Fabrizio Romano announced some details of the new deal on Friday, before Liverpool confirmed it later in the day that he has put pen to paper on a five-year deal until 2031.
"It’s maybe my biggest day," Szoboszlai said on the club's official website. "There are a couple in front of it - probably when I signed for Liverpool the first one and when I got my baby, of course. But in my football career, I can say this is in the top three.
"Very happy. (I) can’t wait to go again and again and again. I’m just happy to be here, as I said many times."
Alongside Szoboszlai’s new deal, the Reds have made two first-team signings so far in Jeremy Jacquet from Rennes and Victor Munoz arriving from Osasuna.
Liverpool are still on the lookout for a Mohamed Salah replacement, however - a new winger who could turn the side into title contenders next season.
