The 29-year-old is currently on around £110,000 a week at Anfield, and has a further 20 months to run on his current deal.
Both the player and the club are thought to be keen to extend his deal, with Johnson establishing himself as Liverpool’s first choice right back over the past couple of seasons.
However the England man will need to be willing to take a pay cut if a deal is to be struck, with the clubs American owners Fenway Sports Group looking to reduce the wage bill at the club.
Whether Johnson is willing to accept remains to be seen, but there is no doubt the club want to keep Johnson at Anfield.
He is currently sidelined until next month with an ankle injury sustained during Liverpool’s 1-0 win over Manchester United on September 1, and the Reds have struggled without him.
Manager Brendan Rodgers came under fire for playing four centre backs during their first defeat of the season to Southampton on Saturday, with the Reds boss claiming afterwards he was left with little alternative due to the injuries in the full back department.
Johnson joined Liverpool for £18million back in 2009, and has enjoyed the most consistent spell of form of his career under Brendan Rodgers.