The Reds have been tracking the Croatian centre-back for some time, with Brendan Rodgers having earmarked him as the right man to seal the Reds’ leaky backline.
The Saints initially played hardball with their Merseyside rivals by demanding in excess of £20m for their man, but with Lovren having actively sought the switch a fee of £16m plus add-ons has been settled upon.
The enforcer only arrived at St Mary’s Stadium from Lyon last summer, but after an impressive season he’s set his sights on Champions League football at Anfield.
A medical is understood to be scheduled for tomorrow, and the player will also run through personal terms before penning a contract at the club.
Adam Lallana and Rickie Lambert have already switched from Southampton to Liverpool in recent times for a combined figure of close to £30m.
The 25-year-old’s arrival is likely to be accompanied by that of Loic Remy, who is on the verge of an £8.5m switch from QPR.
Belgian World Cup starlet Divock Origi is also close to agreeing a move, but he will be loaned back to Lille for next season.