Liverpool's squad were reportedly told of Jurgen Klopp's decision to leave the club at the end of the campaign on Friday morning.
The 56-year-old arrived at Anfield in October 2015 to replace the recently-sacked Brendan Rodgers at the helm in Merseyside, tasked with moulding the Reds into contenders for major titles once again.
Klopp completed that assignment in admirable fashion, leading Liverpool to the Champions League crown in 2019 before lifting the club's first-ever Premier League title in 2020.
The German has also won the FA Cup, EFL Cup, Club World Cup and European Super Cup during his eight-year spell with the Reds, as well as breaking the 90-point mark in the English top flight on three separate occasions.
According to The Telegraph, Liverpool's squad were informed of Klopp's decision to depart on Friday morning, only moments before an announcement was made to the footballing world.
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It is understood that the former Borussia Dortmund boss relayed his desire to leave the club to his employers in November, with the Reds waiting to fill in their playing staff on the news.
Following a number of key additions for their midfield in the summer transfer window, Klopp's side are enjoying a successful season so far in 2023-24.
The Reds currently sit at the head of the Premier League table, five points ahead of second-placed Manchester City, who have prevented the German coach from earning more than one league title in England.
After securing a 1-1 draw in the second leg of their semi-final against Fulham on Wednesday, Klopp is a Wembley showdown with Chelsea away from lifting the EFL Cup once again.
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Liverpool eased into the last 16 of the Europa League in December, topping a group consisting of Toulouse, Union SG and LASK, with the Merseysiders one of the favourites to win UEFA's second-tier club competition.
Klopp's charges were handed a tough assignment against Arsenal in the third round of the FA Cup earlier in the month, although a confident 2-0 victory over Mikel Arteta's Gunners has set up a fourth-round clash with Norwich City on Sunday.
The 56-year-old has ruled out coaching another club in England after developing such a strong connection with Liverpool, and the ex-Mainz man hinted that he may not return to management at all.
Taking charge of 465 matches for the Reds, Klopp has won 289, drawn 95 and lost 81 games, giving him a win percentage of 62.2% over an eight-year spell.
