Brendan Rodgers has committed his future to Liverpool by agreeing to sign a new four-year deal in the coming days, according to the Telegraph.
The report suggests that the club could make an announcement before the Reds' last Premier League fixture of the season against Newcastle United at Anfield on Sunday.
The new contract would secure Rodgers' future at Anfield until 2018 and is likely to hand him a significant rise in wages.
The Northern Irishman left his managerial role at Swansea City to succeed Liverpool legend Kenny Dalglish by signing a three-year deal in the summer of 2012. Since taking over the reins at Anfield, Rodgers has overseen a miraculous transformation of the Merseyside club's fortunes.
Liverpool finished seventh in the Premier League during his first season in charge, but this campaign they have surged to the top of the table. They still have a chance of winning the title going into the last day of the season if Manchester City and Chelsea drop points in their remaining fixtures.
Liverpool are guaranteed to finish among the top three in the league table, which also ensures their return to Champions League football after a four-season absence.
The Telegraph's report also claims that the only reason principal owner John W Henry did not hurry to secure Rodgers' future was to help the manager concentrate wholly on their title push.
Last month, Rodgers had hinted that signing an extension with his current employers was imminent.
"There is no doubt that, at some point, we will agree another deal. I am sure of that. This is a giant of a club in the football world and to be able to build it up again and see how the supporters, and also the general public, are enjoying Liverpool, is great," Rodgers explained.
"I knew it was a huge club, but it is not until you become a part of it that you actually realise how big."
With Champions League too set to become a part of Rodgers' planning for the upcoming campaign, the Liverpool boss is wary of the need to spend during the upcoming transfer window.
Rodgers has already revealed that he is looking to sign at least six players if his side are to build on this season's progress and actively compete for silverware next season. He is reportedly set to be handed £70m in order to bolster his squad for the upcoming campaign.