The 52-year-old joined Liverpool from Borussia Dortmund in October 2015 and has enjoyed plenty of success in his current role.
He won the Champions League with the Reds last season and his team is currently eight points clear at the top of the English Premier League.
“For me personally this is a statement of intent, one which is built on my knowledge of what we as a partnership have achieved so far and what is still there for us to achieve,” Klopp told the club website.
“When I see the development of the club and the collaborative work that continues to take place, I feel my contribution can only grow.”
He added: “When the call came in autumn 2015, I felt we were perfect for each other; if anything, now I feel I underestimated that. It is only with a total belief that the collaboration remains totally complementary on both sides that I am able to make this commitment to 2024.
“If I didn’t I would not be re-signing. This club is in such a good place, I couldn’t contemplate leaving.”
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