The Reds could only finish second in the Premier League to Manchester City despite accruing 97 points:
But they can still finish the campaign on a high as they face Tottenham Hotspur in the UEFA Champions League final on June 1.
It is their second consecutive appearance in the final of Europe's elite competition. Last year they were beaten 3-1 by Real Madrid.
Lovren hailed the consistent improvement Liverpool have enjoyed since Jurgen Klopp took over as manager in 2015, and he said the Merseyside outfit will continue to get better next term, per Liverpool's official website:
"When you look back on the last three years, it was every season improvement. When Klopp came, every year we did better and better. Last season we did quite well, we had quite a lot of injuries and reached the final of the Champions League.
"This year, with the new players, we reached second place with 97 points, it’s incredible, and again the final of the Champions League so definitely we are again one of the contenders for next year to do something great. With this team, we can only improve."
Lovren, 29, has been at Liverpool since 2014 when he signed from Southampton for £20 million.
He has seen his role somewhat diminished this term as he has acted more as a squad player than in previous seasons.
The Croatian started only 11 of Liverpool's 38 Premier League games in 2018-19, although he did endure a number of injuries.
With Virgil van Dijk now the senior centre-back, Lovren is fourth in the central defensive pecking order behind the Dutchman, Joel Matip and Joe Gomez.
He is unlikely to make the starting XI for the Champions League final against Spurs, as he did last year in defeat to Real.
Lovren remains, however, a reliable back-up. He can be frustratingly inconsistent, but he is now an experienced senior player and his enthusiasm for playing under Klopp clearly remains.