Walsall-born Roberts, a product of the club's youth system, progressed through the ranks at Banks's Stadium to establish himself in the first-team.
24-year-old has made ninety-four club appearances and made his first-team debut against Millwall in February 2016 at the Banks’s Stadium. Liam has also enjoyed loan spells with Southport, Gresley, and Chester.
Speaking via the club's official website, Liam said; "I’m over the moon to sign the new deal. With the start to the season I have had, I’d just like to say a massive thanks to the coaching staff and the gaffer for believing in me and now we can keep pushing on and go on the same journey together.
"I want to keep playing games, I want to keep progressing and I want to keep working hard for this football club."