The striker says he is happy "for now" but wants to wait and see what the club's position is at the end of the season, admitting they are not title contenders any longer
The Uruguay international has been in terrific form for the Reds this term, netting 17 goals in 24 league games, and has been a key figure at Anfield since his £22.8 million move from Ajax in January 2011.
"We will see at the end of the season what Liverpool's position is - we're not the Liverpool of old"
And the 26-year-old has recently affirmed his commitment to the Premier League side, despite rumours linking him with Pep Guardiola's Bayern Munich, as well as Juventus and Real Madrid.
The forward has once again stated he is "content" at the club for the time being, but indicated that fresh talks about his contract are needed in the not too distant future.
When asked by Spanish radio station Marca if they should talk about his future in the summer, he replied: "Yes, we should talk this June or the next one, in 2014. My contract ends in 2018.
"My family is very happy here and I'm living a dream, playing for a club that every kid wants to play for. So we're content, for now."
Brendan Rodgers' men, currently in seventh place and nine points off the top four, are aiming to get back into the Champions League this season after a prolonged absence from the elite European competition they have won five times.
It remains a tough feat though, with Arsenal, Everton, Tottenham and Chelsea all in the mix for the last two spots behind Manchester City and neighbours United, while Liverpool are without a win against a top-half team this campaign.
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"We will see at the end of the season what Liverpool's position is - we're not the Liverpool of old," he continued. "We're coming out of a rough patch, but this is a transition period with a new gaffer and a different philosophy.
"The players enjoy how the manager wants us to play. All we need are the results and to finish in the Champions League spots.
"We would like to qualify for the Champions League if possible. We are young and growing as a team and when the players mature, we will be stronger."