Suso, who has been at the club since 2010, has broken into the Reds first team this season, making five appearances in all competitions so far, and Rodgers is pleased the youngster is ready to commit his future to the club.
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"I have been really impressed. He is a good boy and very keen to learn. He is a wonderful technician, he's very bright and a thinking player - which I like.”
The 18-year-old made his Reds first-team debut in the Europa League win over Young Boys in September, before earning a first Premier League start in the 5-2 victory at Norwich nine days later.
Rodgers knows Suso has much yet to add to his game but is clearly ready to show faith in the midfielder with an improved deal.
"He needs to add goals to his game but obviously when you are a young player coming into the team you are really just trying to settle in,” the Reds boss added.
"But for him he is very creative and he works very hard. He's done very well; there is a long way to go but he's shown excellent promise."