Now back to full fitness, the England international has been rewarded with a new four-year deal.
"I'm really, really excited - it's been in the pipeline for a little while, so it's nice to finally get it done and just extend my time here, which I am really looking forward to," Oxlade-Chamberlain said.
"I feel like I missed out on a year, which I obviously did, so it's really exciting for me to be able to sign. It's something that I feel is an opportunity to give that year back and make up for lost time - and hopefully put in some good performances to make amends for not being around last year.
"You've got to count your blessings every time you get an opportunity like this, you don't get the chance to play for Liverpool Football Club every day. I am really excited to be able to extend my time here."