The 28-year-old has impressed several times this season after being linked with a move away from Liverpool last summer.
“I have come to appreciate that, at a big club like Liverpool, you can’t take anything for granted,” Benayoun said in The Mirror.
“With the number of top players we’ve got, you accept you are not always going to be playing and that you have to give it everything when your chance comes along. That is fine with me.
“If I found myself going three or four months without setting foot on the pitch, it might be different. But as things stand, that is not an issue with me.
“I feel settled and I’m happy to be contributing.”
