Standard Chartered' sponsorship has been worth £20m a season to Liverpool since 2010 when it replaced the long-standing Carlsberg who enjoyed 17 years emblazoned on the famous red jersey.
However, the latest deal is believed to see Liverpool receive a further £10m a season, bringing their shirt sponsorship revenue level with rivals Arsenal.
Manchester United's Chevrolet deal is worth £40m per season while Chelsea's new deal with Japanese tyre manufacturers Yokohama Rubber will be worth £10m more than Liverpool's current deal.
Standard chief executive Peter Sands commented:
Liverpool Football Club is a fantastic club and hugely popular across our global footprint. Over the last five years our partnership has allowed us to deepen our engagement with our customers, clients and staff, and has provided valuable support to the charitable initiatives close to our hearts.
We are very pleased to be able to continue this collaboration, and look forward to what we can achieve together in the future.