He announced the news via Liverpool's official Twitter account on Friday:
Klopp took over at Liverpool in October 2015 following the departure of Brendan Rodgers.
Paul Gorst of the Liverpool Echo and the Mirror's Jim Boardman shared comments from Klopp on his decision to extend his stay with the club:
Football writer Jack Lusby welcomed the news but was surprised by it:
BBC Sport's Emma Sanders hailed the new contract, while Fox Sports' Daniel Garb put it in perspective:
The Reds will be delighted to have secured Klopp's long-term future, given his exceptional work at Anfield.
Liverpool finished eighth in his first season and reached the finals of the League Cup and UEFA Europa League, although they were beaten in both by Manchester City and Sevilla, respectively.
In 2016-17 and 2017-18 the 52-year-old delivered back-to-back fourth-placed finishes, and in the latter campaign they also reached the UEFA Champions League final.
They were beaten 3-1 by Real Madrid on that occasion, but they won the competition last season. After producing a remarkable comeback from a 3-0 defeat in the first leg of their semi-final with Barcelona to beat them 4-0 at Anfield, they triumphed over Tottenham Hotspur 2-0 in the final.
Klopp's side also pushed City all the way in the Premier League and racked up 97 points, finishing just one behind the Sky Blues.
This season, Liverpool are eight points clear at the top of the table—and 14 above City—after 16 games, having won 15 of them and drawn the other.