The Reds have been linked with the skilful attacker on a number of occasions over the past few years, but have been unable to tie up a deal of any kind for a variety of reasons.
But Brendan Rodgers has not been deterred, with another swoop for the Spaniard when the transfer window re-opens on his agenda.
And he may be more successful this time around, as rumours suggest that Tello is keen to quit Barca.
The 22-year-old is aware that he faces a major battle to be a first-team regular at the Nou Camp, and is considering moving on in a bid to get his career back on track.
The Catalans themselves are also open to a deal, with a price tag of £8m having been slapped on the youngster.
Barca are set for a summer overhaul with their FIFA transfer ban having been suspended for the summer, and are ready to clear out fringe players to make room for new arrivals.
Porto are also in the running, yet the lure of Premier League action could be a major factor.