By Alex Stevens

Philippe Coutinho has committed his long-term future to Liverpool by signing a new contract, it was announced on Wednesday morning.

The attacking midfielder, 24, has penned improved terms following a series of electrifying displays this season.

Liverpool confirmed on their website and official Twitter account that Coutinho had signed on the dotted line just two years after he signed a five-year contract in February 2015.

Liverpool did not specify the length of the agreement or reveal any details other than sharing that the terms of the new deal will come into effect on 1 July of this year.

However, the BBC Sport website reported that the contract will run for five years until 2022 and will be worth £150,000-a-week.

Subscribe to Football Insider TV now

It puts to bed speculation that Coutinho could be heading to Barcelona, although cynical Liverpool fans remember that Luis Suarez penned a new deal in January 2014 before moving to the Nou Camp seven months later.

Coutinho is the second Liverpool attacking midfielder to sign a contract in days as Lazar Markovic joined Hull earlier this week on a loan deal that runs until the end of the season.

Coutinho, who moved to Anfield from Inter Milan in January 2013, has emerged as arguably the outstanding player in Jurgen Klopp’s squad and been hailed by the manager as a “genius” for the quality of his play, which has been elevated to a new level since the German took over at Anfield 15 months ago.

The Brazilian playmaker has been instrumental in his side’s title challenge this season and was sorely missed during his two-month absence with an ankle injury.

He is now working his way back to full match fitness and is expected to be involved on Wednesday night in what is likely to be a full-strength side that takes on Southampton in the League Cup semi-final second leg.

The Saints head to Anfield aiming to protect a 1-0 lead from the first leg.

In other Liverpool transfer news, the club have tabled a mega bid for a young defender and a record-breaking deal has been agreed.

We’ve launched an << EXCLUSIVE TRANSFER WINDOW NEWS FEED>>. ‘Like Us’ on Facebook by clicking here if you want 24/7 updates on all Liverpool transfer news