Liverpool are determined to hold on to their top stars as challenge for the Premier League title this season.
Mane has formed a world-class playing relationship with team-mates Roberto Firmino and Mohamed Salah in recent months.
The trio have helped Liverpool remain unbeaten in the league this season.
And Mane has now pledged his future to the Merseyside club.
Mane, who joined the Reds from Southampton in 2016, has agreed a five-year contract until 2023.
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He will officially put pen to paper on the contract in the New Year.
Mane cost Liverpool £34m two years ago but has proven even more valuable to the Reds.
He was instrumental in Liverpool’s charge to the Champions League final last season, where they lost to Real Madrid in Kiev.
Anfield bosses are understood to have been calm about opening fresh talks over a new contract, with Mane having two-and-a-half years still on his current deal.
But the new terms mean they can now not fear a potential move from Barcelona to sign the Senegal international.
As Express Sport revealed this morning, Mane is one of a number of players Liverpool were aware could enter Barca’s radar.
Liverpool have already reluctantly sold both Luis Suarez and Philippe Coutinho to the Nou Camp club in recent years.
They inserted a clause in the Coutinho deal last January that stipulated Barca would have to pay an additional £89m (€100m) premium on top of any player they bought from the Reds until 2020.
Salah is another top star who has attracted plenty of attention in recent years following his exceptional stint in the North West.
But the Egyptian recently penned fresh terms on a deal, while Firmino is also well under contract.
“I am very happy, very happy to extend my time at Liverpool,” Mane told Liverpool’s website.
“It is a great day for me and now I am looking forward to everything – to helping the team, to helping the club achieve our dreams and, especially, to win trophies.
“I’ve always said, when I knew I had a chance to come here I didn’t have to think twice. The right club in the right moment and with the right coach as well. I came here and was very happy.
“For me, I have made the best decision in my career.”