Shelvey has impressed since Kenny Dalglish took over from Roy Hodgson in January.
“I believe next season will be a big one for Liverpool,” said the 19-year-old.
“I think with the way we were ending the season, apart from our last two games, the fans have got to be very optimistic about the future.
“There is always big expectation about Liverpool but we have got Dalglish in charge and I’m confident about next season.
“There is a buzz about the club under Kenny and it shows in every game we play.
“It’s just immense for me to be working with someone like him.
“We are disappointed we didn’t qualify because playing in Europe is a great experience for the young players and it’s also a great chance to prove yourself to the manager.
“I got the chance to play in the Europa League this season and I enjoyed it.
“I heard some supporters say they’d much rather we weren’t in it because they want us to concentrate on the league and I can see where they are coming from, but as a player you just want to play as many games as you can.”
Shelvey joined Liverpool from Charlton last summer.
“To get the opportunity to play for this club is the best thing that could happen to me in my life,” he added.
“I love the club to bits and the words to describe the experience so far are unreal and a dream come true.”
