Klopp has extended his Liverpool contract until 2024 - making this his longest commitment to one club in his career in management.
Assistant managers Peter Krawietz and Pepijn Lijnders have also signed deal extensions to run concurrently with the German.
The Reds boss announced the new deal in a video on Liverpool's official Twitter page.
"We decided to continue what's worked so far, not too bad," said Klopp on Liverpool's social media channels. "We've agreed a new contract until 2024.
"That's good news for some, not so good news for others, sorry, but you can switch the channel off now. For the others, here are the reasons.
"We love it here. First and foremost, it's a wonderful club, we really feel at home, and understand most of the people and I thought it's a good moment to continue this thing."
Happy Friday, Reds pic.twitter.com/7qUWOsszb6— Liverpool FC (@LFC) December 13, 2019