The Uruguayan has enjoyed a superb season at Anfield, scoring 20 goals in 30 games and playing a key role for the Reds as they chase a top six finish in the Premier League.
His prowess in front of goal this season has drawn the attention of bosses at the Allianz Arena with new manager Pep Guardiola apparently indicating he wants Suarez in place before he arrives in the summer.
Juventus and Manchester City are both long-term admirers of the controversial 25-year-old but the Bundesliga leaders are hoping to steal a march on their European rivals with a bid this month.
Brendan Rodgers would loathe to lose his top goalscorer and will do everything in his power to keep him out of Bayern’s clutches before the German transfer window closes on 2nd February.
Former Barcelona boss Guardiola is thought have drawn up a list of strikers to target, with Suarez at the top, when he takes over from Jupp Heynckes, who is retiring at the end of the current campaign.
Should the 42-year-old fail to lure the ex-Ajax hitman away from Anfield he will turn his attentions to one of Radamel Falcao, Edinson Cavani and Edin Dzeko.