The American sports brand - parent company of current supplier Warrior - hopes to increase its football presence, having had limited previous experience as a kit supplier in the sport.
"We are thrilled to announce this partnership with one of the world's leading sportswear brands, which is a record-breaking deal for the club," said Liverpool chief commercial officer Billy Hogan.
"Like Liverpool FC, New Balance has more than 100 years of heritage and a global footprint.
"Not only are they well known for their technical innovation across a range of sports but they also have a presence in many countries across the world, which will all feature LFC kit. We are very excited about joining forces with them."
New Balance Football general manager Richard Wright added: "Liverpool FC is one of the most successful and decorated clubs in world football and we're delighted to partner with them.
"The partnership represents an important step for New Balance launching into football and reflects the global growth ambitions of the brand.
"Over the course of the contract, New Balance will bring innovation and world-class product to Liverpool FC and its global fanbase."
