"Finally, I must thank the supporters who are at the heart of everything we do here. I am honored every day to lead this team and I thank the fans for their continued support as together we strive to bring success back to Liverpool Football Club."
Principal owner John Henry and chairman Tom Werner said in a statement: "We are very fortunate to have a hugely talented individual leading our football performance and in whom we place our trust to deliver the vision we share for Liverpool Football Club.
"Brendan is at the heart of what we, as an ownership group, are trying to achieve on the pitch. This season has reaffirmed everyone’s belief that we can bring football success to Liverpool and we are all committed to working together to achieve that.
"Players and supporters have made it clear how important Brendan is to our success and so to have him commit to us for the long term is a great boost for everyone going forward."