The 19-year-old has committed his immediate future to the Anfield club, even though he may be set for a loan move in the summer.
An England U19 international, Scanlon has already made his senior debut this season in the Europa League.
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He has spent most of the campaign playing for Liverpool's Under-21 side in the EFL Trophy and other competitions.
Scanlon joined Liverpool from his hometown club Birmingham City back in 2021.