The Daily Mail is reporting that the 25-year-old’s current contract is worth £120,000 a week and is set to expire in three years.
The same article states that the 18-time English champions want to offer Oxlade-Chamberlain an additional one-year deal.
According to the same story, Liverpool FC boss Jurgen Klopp believes Oxlade-Chamberlain is a positive influence within the dressing room.
The England international missed the 2018 Champions League final due to a season-ending knee injury that he suffered in a 5-2 victory over AS Roma in the first leg of the semi-final.
Oxlade-Chamberlain had to sit out most of the 2018-19 season due to the knee problem before he made his return to action as a substitute in a 5-0 win over Huddersfield Town at the end of April.
Klopp brought on Oxlade-Chamberlain in the 88th minute of their 2-0 victory over Wolverhampton Wanderers on the final day of the Premier League season at Anfield.
Liverpool FC signed Oxlade-Chamberlain in a £40m deal from Arsenal in the 2017 summer transfer window.
The England star has scored five times in 44 games in all competitions for the Merseyside outfit since his move to Liverpool FC two years ago.
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