The right-back, who spent last season on loan with Derby County, has returned to Anfield with designs on a first-team spot next term.
The young defender made 38 appearances for the Rams last season as they were beaten by a last-minute Bobby Zamora winner in the playoff final at Wembley.
Following the completion of the loan stay, the 21-year-old has claimed that he returns to his parent-club as a better player, ready to put pressure on first-choice right-back Glen Johnson.
Speaking to the club's official website, Wisdom said: "I have had a brilliant time at Derby County and every minute of it has been a real pleasure. The aim was to come out and play games and I have done that for the last seven months.
"Under Steve McClaren, I think I have grown as a player and a person and when I report back at Liverpool for pre-season training, I'll be a better player for the brilliant experience I have had. I think I have improved as a result of being at Derby and it is just a shame we didn't get the promotion we deserved.
"The lads were brilliant from the minute I arrived. It's not just them, though; the staff and fans have shown so much support to me. "I've made some good friends as a result of coming to Derby and I can't speak highly enough of the place."
Jon Flanagan's switch to left-back following the injury to Jose Enrique and Aly Cissokho's poor form meant Johnson played 29 times at right-back last season, but Wisdom's return, coupled with Martin Kelly's return to fitness will provide the England international with ample competition next term.
And that is before you take into account the possible arrival of Serge Aurier, leaving Wisdom with a considerable challenge to get the first-team football at the Reds he desires.