The 28-year-old, who was a key player in Liverpool's Premier League-winning squad last season, tragically died in a car accident in Spain alongside his brother, Andre.
Celtic said: "Everyone at Celtic Football Club sends our deepest condolences to Diogo Jota’s family and friends, following the tragic passing of Diogo and his brother.
"Our thoughts are also with his colleagues at Liverpool Football Club during this incredibly difficult time."
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Jota was instrumental in Liverpool's Premier League success, netting nine goals in the campaign.
Liverpool's statement read: "Liverpool Football Club are devastated by the tragic passing of Diogo Jota.
"The club have been informed the 28-year-old has passed away following a road traffic accident in Spain along with his brother, Andre.
"We will continue to provide them with our full support."