Luis Suarez has been handed a 10-match ban by the Football Association for his bite on Chelsea defender Branislav Ivanovic.
The 26-year-old avoided a caution during Sunday's 2-2 draw between the sides as referee Kevin Friend had failed to spot the incident.
However, after Suarez pleaded guilty to the FA's charge of violent conduct in the aftermath, authorities have deemed the automatic three-match ban "insufficient".
The Uruguyan has until midday on Friday April 26 to appeal the additional seven-game sanction and the Merseyside club's managing director Ian Ayre did not rule out such a move on Wednesday.
He told the club's official website: "Both the club and player are shocked and disappointed at the severity of today's Independent Regulatory Commission decision.
"We await the written reasons tomorrow before making any further comment."
Suarez issued an immediate apology to Ivanovic after Sunday's game, insisting he was "deeply sorry" for his "inexcusable" behaviour.
The Chelsea centre-back subsequently decided not to press charges when interviewed by Merseyside police.
Liverpool later fined the forward an unspecified amount which he asked to be donated to the Hillsborough Family Support Group, although campaigner Margaret Aspinall admitted she was reluctant to accept the cash due to the nature of Suarez's actions.
The former Ajax star has also been offered anger management counselling by the Professional Footballers' Association.
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