The Reds have been linked with the 22-year-old on several occasions over the course of the past few years but have been unable to lure him away from the Nou Camp on a permanent or loan basis.
Yet this has not deterred the Merseysiders, who are ready to make another push this summer.
Tello signed a new contract at Barca recently, however he is expected to leave in the coming months after sliding down the pecking order.
Brendan Rodgers is understood to have pushed Liverpool towards an £8m deal for the youngster, who he sees as a player that will add strength and depth to his ranks as he plots for a season in the Champions League.
Arsenal and Tottenham have also been linked with Tello, but the Anfield side are confident that they can tie up a deal.
Rodgers may also look to move for Stephane Mbia of QPR, Dnipro Dnipropetrovsk’s Yevhen Konoplyanka and Southampton captain Adam Lallana in a big transfer window.