The 22-year-old moved to Cardiff City on loan in January and has appeared in 13 out of 16 games since arriving in Wales, playing a central role in helping the Bluebirds promotion push.
Grujic has yet to make a single first-team appearances under Jurgen Klopp, but Lovren believes the young Serbian midfielder is in the German's plans.
"I'm really glad for Marko that it is going well at Cardiff and hopefully they will be in the Premier League next season," said Lovren in Liverpool's matchday programme.
"He hadn't been playing here and is still young so I think it was the right decision for him to go to Cardiff to get some minutes on the pitch.
"I saw his goal against Barnsley and I'm really happy for him that he is doing well there."
He added: "Going from the Serbian league to Premier League was a big step for him so I think the first year-and-a-half was about adaptation.
"Hopefully he will be fine for next season to play a big role here because I know the manager is thinking about him for the future."