The Reds have been tracking the Spain international for much of the summer, but have been unable to agree terms with Sevilla.
A £14m swoop was thought to be all but done during the World Cup, yet the La Liga side hiked up their valuation to closer to £20m, which deterred the Merseysiders.
Liverpool have since looked at Ben Davies and Ryan Bertrand, however both players have moved on to sign for Tottenham and Southampton respectively.
This has lured Brendan Rodgers’ side back in for Moreno, who is seen by members of the Anfield hierarchy as the ideal solution to their left-back problems.
The 22-year-old shone last season as Sevilla won the Europa League and is understood to have told his current club that he wants to join the Premier League runners-up.
A fee of around £16m has reportedly been agreed and the player himself is du to travel to England this week to finalise the switch.
Sevilla and Liverpool have already done some business this window with Iago Aspas now on loan at the Ramon Sanchez Pizjuan for the coming season.
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