It has been reported by the British tabloid that 19-year-old England international right-back Alexander-Arnold will see his weekly salary of £40,000 increase to over £60,000.
England international defender Gomez, 21, will reportedly earn over £50,000 per week as salary under the new terms.
The England duo have progressed well in recent years, and working under manager Jurgen Klopp is only going to help them develop and progress as footballers.
Gomez has played in all four Premier League matches for Liverpool so far this season, and so has Alexander-Arnold.
The Reds are at the top of the Premier League table at the moment with 12 points from four matches, level on points with Chelsea and Watford, who are second and third respectively.