As a trying season for the club draws to a close, the 28-year-old admitted he had considered triggering a £20 million release clause in January.
But the scale of improvement under Kenny Dalglish and new owners Fenway Sports Group has impressed him such that he is happy to commit his future to Liverpool - even as European qualification hangs in the balance.
Having sought assurances from Liverpool's Director of Football Damien Comolli regarding the club's plans for the summer, the goalkeeper is excited by the comprehensive overhaul on the horizon.
"Everything has changed, the whole situation of the club," said Reina.
"We know how much work there is to be done, but I believe we are in the right place and we are going in the right direction. Next season will be more positive.
"The quicker we improve, the better for the club, but we cannot change overnight. The owners are preparing a big summer and hopefully the players that come in will improve the squad."
The scope of change at Liverpool is likely to be vast this summer, but the Spain international is a key figure for the Reds and his comments will come as a relief to management and fans alike.
And the ambitious Spaniard will be delighted as the list of names being linked with Liverpool continues to grow.
Players rumoured to be on the radar of Comolli and his scouting team include England and Aston Villa wingers Ashley Young and Stewart Downing and Ipswich starlet Connor Wickham.
Marko Marin of Werder Bremen, Athletic Bilbao forward Iker Muniain and Marseille's Andre Ayew are also potential targets.
By David Jamieson
