At the end of the season, the 33-year-old who has secured legendary status at the club will depart.
He boasts an impressive collection of trophies, including two Premier League and two Champions League titles, all earned during a remarkable nine-year stint with the club.
Liverpool are now on the lookout for a replacement to succeed him.
Sky Germany's Florian Plettenberg has reported that this replacement could be Yan Diomande.
The 19-year-old winger has had a successful season at RB Leipzig, scoring 13 goals.
This is after he joined the German side from Spanish club Leganes.
He has attracted attention from a number of clubs, including interest from Paris Saint-Germain.
Club chiefs have reportedly already met with his representatives.
Interestingly, Diomande was a trialist for Rangers B less than three years ago.
He played for Rangers B against a Monaco XI, alongside players like Findlay Curtis and Leon King.
Among these players, Rangers had someone listed as a trialist, who was later identified as Diomande.
However, Diomande was never seen again with the team, allegedly due to complications with the agent at the time, whom he blames for ruining his potential move to Ibrox Stadium.
He said: "I was scouted at an international tournament. To prepare for a professional career in Europe, I transferred to an academy in Florida.
"Two years later, I was on trial at Glasgow Rangers. It’s not true that I didn’t want to sign for them – my agent at the time demanded too much money."
His trials also extended to playing for Olympiacos, but nothing materialised there either.
Ultimately, he went to Spain and signed a contract with Leganes.
He added: "After that, I went to Olympiacos on trial, but that didn’t work out either. Eventually, I went to Spain and signed a contract with Leganes.
"I was alone when I went on those trials, but I’m grateful for those experiences."
Surprised at how quickly his career took off, Diomande's potential signing by Liverpool could be the next pivotal point in his career.
Diomande could prove to be more than capable of filling the void left by the departing Anfield star.