The Merseyside outfit could lift their first league title since 1990 as they currently have a five-point lead at the top of the table.
"Brendan has done a great job with the team," Hyypia told the club's official website. "When I see the team play, they are very confident in all departments of their game. I'm very happy for the club and for the fans.
"The front players are very good and they are dangerous. [Luis] Suarez and [Daniel] Sturridge have scored more than 50 goals together this season. So, of course, that's one of the strengths of the team."
Liverpool will face Chelsea, Crystal Palace and Newcastle United in their final three games of the campaign.