The Reds are set for a massive summer of transfer activity, with manager Brendan Rodgers desperate to add depth and quality to his squad ahead of a season of Champions League football.
With a rumoured £60m at his disposal, a move for Adam Lallana of Southampton could be followed by a raid for Shaqiri.
It is understood that members of the Merseysiders’ hierarchy have contacted Bayern to discuss a deal, and are hopeful that an arrangement can be reached.
The 22-year-old is set to star for Switzerland at the World Cup in the coming months, but he has been a peripheral figure at the Allianz Arena for some time.
With the likes of Arjen Robben, Franck Ribery and Thomas Muller all big players at Bayern, the former Basel ace has struggled to get a look in recently.
Liverpool are confident that the prospect of more regular playing time may be enough to get him to Anfield, especially with top level European football now available to the club.