The Athletic, as quoted by the Daily Star, is reporting that the Reds have opted to take up their option to extend the defender’s deal by a further year.
The move means that Matip’s contract will now expire in the summer of 2021 rather than next year.
Matip signed a four-year contract with Liverpool FC upon his arrival at the club on a free transfer back in 2016.
The Cameroon defender has established himself as a key player in Jurgen Klopp’s Liverpool FC team in recent seasons, with Matip having scored one goal in three Premier League games so far this term.
The same story says that the 28-year-old will also be rewarded for his good form with a new contract further down the line.
Meanwhile, Liverpool FC will return to Premier League action on Saturday lunchtime when they take on Newcastle United at Anfield.
The Reds are aiming to maintain their 100 per cent start to the new campaign as they aim to establish themselves as the front-runners for the Premier League title.
Liverpool FC finished a point behind Manchester City and won the Champions League last season.
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