Liverpool winger Jordon Ibe and full-back Jon Flanagan both signed new contracts on Thursday, the club announced.
Ibe, 19, has made 13 appearances for Liverpool this season after spending the first half of the campaign on loan at Derby County.
Manager Brendan Rodgers said he saw plenty of potential in Ibe.
"He still has a lot of work to do to become that consistent performer at the top level, but there's no doubting his potential and he has really grown and developed over the course of the last season," Rodgers told Liverpool's official website.
"He came back from Derby and had taken on board all that he was coached there and had done exceptionally well. I could see the change in him then. He was very focused and came in and did exceptionally well."
PHOTOS: Jordon Ibe signs new long-term #LFC deal. pic.twitter.com/8vAehOI2Ca
- Liverpool FC (@LFC) May 21, 2015
Ibe, who missed time after picking up a knee injury in Liverpool's Europa League defeat to Besiktas on Feb. 26, said he felt "over the moon" after signing the deal.
"It's something I've been looking forward to. I've spoken to the gaffer and I'm happy it's over and done with," he said. "Now I just want to kick on into next season, as well as the last game of this one.
"Liverpool are a great club and I like the philosophy here. I'm enjoying it -- I've just been brought into the first team and I've enjoyed the games I've played in. Hopefully I can just keep doing well at the club."
Flanagan, 22, missed the entirety of the season with a knee injury and will be sidelined for an additional six to nine months after surgery last month.
"It has just been unfortunate for him because he was about to sign a new deal just before the injury," Rodgers said of Flanagan.
"We're hoping that he can get back fit within the next year; it has been a long journey for him this last 18 months and in particular the last year of injury. Hopefully he can get back fit and get back into the team.
"He has been a huge miss for us this season."
The contracts come on the same day that Raheem Sterling's agent said his client will not sign a new contract to stay at Anfield this summer.