Alex Oxlade-Chamberlain is set to extend his current deal at Liverpool
Oxlade-Chamberlain's current deal at Anfield, which is worth a reported £120,000, runs out in three years.
The 25-year-old spent nearly a year out after suffering a serious knee injury last summer.
Oxlade-Chamberlain will agree to an additional one-year deal.
Manager Jurgen Klopp has spoken before about how the midfielder's presence in the dressing room has helped the overall morale of the team.
When he returned from injury recently, Klopp said: 'It's brilliant and so good (to see him back). Seeing his smile after he missed the chance was heartbreaking.
'It's been over a year now. It's cool. It was a perfect day, nothing happened injury wise and of course I'm happy.
'He's such a wonderful, wonderful person. Even better as a player, imagine that? He's already a really good player but as a guy he is outstanding.
'We are so happy for him.'