The Argentina international, whose current deal expires in 2028, remains determined to stay at Anfield despite uncertainty surrounding his future.
Mac Allister has impressed under Andoni Iraola this season, scoring four goals, including three in the Champions League, while contributing one assist.
He believes recent changes could reopen negotiations.
"First of all, obviously, I feel that affection from the fans, and that's something incredible for me. It's not easy at a club like Liverpool to be appreciated the way I am,” he told Argentine journalist Gastón Edul.
"I enjoy it a lot, and obviously winning a Premier League title with this club is something very special, something the fans don't forget. Obviously, we're in a situation where I have a year and a half left on my contract.
"Last season I was told that the club's idea was not to renew it, at least for now. And obviously, that was a painful, unpleasant situation."