Liverpool triggered a one-year extension in Alisson's contract earlier this year, keeping the Brazil international at Anfield until the summer of 2027. However, with the goalkeeper approaching the final year of his agreement, the possibility of him leaving as a free agent has not disappeared.
Juventus were interested in signing Alisson during the summer, and the Italian club's attention could become significant again if the 33-year-old decides against committing his future to Liverpool.
Iraola has held discussions with sporting director Julian Ward about the situation, although he stressed that the final decision rests with the player and the club.
"I don't know [if this will be Alisson's last season], that is a question you have to ask him. I hope not, I hope he continues with us for more time.
"But, when you ask me about contracts and these situations, it is a matter for the players and the club.
"Yes we have continuous conversations with Julian but I cannot tell you everything. We talk between us."
The goalkeeper has also faced scrutiny following Liverpool's recent defeats against Arsenal and Fenerbahçe.
A loose pass towards Jeremy Jacquet contributed to Kai Havertz scoring Arsenal's winner in the 1-0 Premier League defeat, while Alisson was involved in a mix-up with Cody Gakpo during the Champions League loss in Turkey.
However, Iraola rejected the suggestion that the goalkeeper should shoulder responsibility for the goals, arguing that both incidents involved wider defensive problems.
"I think we've conceded goals in the last week against Arsenal and Fenerbahçe where it is difficult to blame just one player, especially the Fenerbahçe goals.
"They were messy situations, especially the deflection off Cody Gakpo for the second goal. There have been more players involved than just Alisson."
Iraola also accepted that Liverpool's approach contributed to the Arsenal mistake, but pointed out that the team still had defensive cover behind the ball when possession was lost.
"Even in the Arsenal goal, it's true that we messed up in the goal-kick. I assume part of that because I am the one who is telling them to play it.
"But even after we lose the ball we have eight defenders behind the ball, so Ali is not the one more responsible for those goals."
The manager insisted Liverpool would not abandon their approach because of isolated mistakes, but acknowledged the need for players to recognise when playing out from the back carries too much risk.
"If the situation is clear enough we should definitely play it. But if it is not clear enough it is better not to take risks."
With Alisson's contract situation still unresolved, Liverpool will hope the goalkeeper remains committed to the club beyond the current agreement. Iraola has made his preference clear, but recognises that the next move belongs to Alisson.