Recent rumours had suggested that the Uruguyan striker may be preparing to leave Liverpool after a turbulent campaign that saw him suspended for eight games having been found guilty of racially abusing Patrice Evra.
Paris Saint-Germain were said to be amongst his potential suitors, but Reds were buoyed this week after Suarez revealed he had no intention of leaving the club any time soon.
Liverpool secured the services of the former Ajax forward on a five year contract in a deal worth £22.8 million in January last year, and now the club’s managing director, Ian Ayre, expects director of football Damien Comolli to begin talks over a new contract soon.
"Listen, he's got a contract until 2016, he has said he wants to stay. I am sure Damien will be speaking to his agent," Sky Sports quote Ayre as saying.
“Who wouldn't want Luis Suarez? He is absolutely fantastic. He is such a popular member of our team.
"But they are the things we talk about behind closed doors, and we will further that discussion when it is right and proper.
He added: "Luis is a vital and important part of our set-up, and long may that continue."
While Suarez has been an unequivocal hit with the Anfield faithful his wasteful finishing in front of goal has seen him hit the back of the net just six times in the Premier League this season.
However the 25-year-old has helped his side to success in the Carling Cup this season, while another trip to Wembley beckons after his goal against Stoke helped the Reds to a 2-1 victory over Stoke in the quarter finals of the F.A Cup.