Sky Sports sources understand that Luis Suarez is expected to pen a new long-term contract with Liverpool on Tuesday.
The Uruguay international endured a difficult 2011/12 campaign and was believed to be considering his future at Anfield.
Italian giants Juventus were said to be among those keen to secure the South American's signature.
Liverpool have never offered any indication that a sale could be on the cards, though, with Suarez a key part of their plans heading forward.
He has returned to pre-season training following Uruguay's elimination from the 2012 Olympics, allowing him to get a taste of life under new Reds boss Brendan Rodgers.
It is understood that Suarez is happy to remain at Anfield and play his part in the club's quest to challenge for major honours at home and abroad.
So keen are club and player to put an end to the speculation regarding his future that a deal could be put in place on Tuesday.
Suarez signed for Liverpool from Ajax in January 2011 on a five-and-a-half-year deal, but fresh terms will bring him in line with the rest of the club's top earners.