Brendan Rodgers sees the 25-year-old as an ideal versatile winger who will compliment the attacking philosophy he has adopted at Anfield.
Rodgers has been a long-term admirer of the Selhurst Park ace, dating back to his time at Swansea while Bolasie was with Plymouth.
And the £2.5million-rated winger put himself back on Rodgers’ map during Palace’s 3-3 draw with Liverpool towards the end of last season, where he helped inspire a comeback from 3-0 down to all but end the Reds’ title hopes.
But Liverpool will have to compete for Bolasie’s services, with a number of clubs across Europe, including Serie A side Fiorentina, who are expected to follow up their interest in January with an approach this summer.
Bolasie would be available at a cut-price, with just 12-months left on his current Selhurst Park contract, but Palace are eager to keep hold of him and have offered him a new deal.