The Spanish ace only switched to Anfield over the summer, but has struggled to force his way into the Reds’ first-team.
The razor-sharp form of Luis Suarez and Daniel Sturridge – before his injury – has seen Aspas slip into the background on Merseyside, with his own fitness problems not helping his cause.
Betis have been alerted by this, and are ready to offer him an escape route.
The Verdiblancos are currently bottom of La Liga after a woeful start to the season, and are desperate to add to their squad to avoid relegation to the second tier.
Aspas was key in helping his former side Celta Vigo ease clear of the drop last term, and Betis are hopeful that his experience in the situation could be useful for them.
The 26-year-old enjoyed a fine pre-season for Liverpool, but struggled to make a serious impact during the opening few weeks of the campaign, in which he played regularly.