Brendan Rodgers’ side are understood to have had an offer worth £20m accepted by the Europa League champions, giving them the green light to discuss terms with the exciting defender.
It is thought that £15m of the deal will be paid in cash, while the remaining amount will be made up by young midfielder Suso moving to the Ramon Sanchez Pizjuan.
Moreno featured for Spain against Bolivia last night and is set to jet off with the reigning world and European champions before Vicente Del Bosque whittles his squad down from 30 to 23 names.
But Liverpool are keen to secure a deal in principle before the 21-year-old makes his potential trip to Brazil, with Rodgers keen to get his transfer business done quickly.
Moreno is set to undergo talks with the Merseysiders in the coming days, with rumours suggesting that he is keen to make the move.
Rodgers is hopeful of getting the talented full-back in, with the left side of his defensive line having been an issue for some time.
Jose Enrique’s injury woes and the erratic form of on-loan Valencia man Aly Cissokho – who has now left the club – led to young right-back Jon Flanagan taking the position for the end of last season.
Although the Scouse-born fans’ favourite impressed, he is not seen as a long-term option in the role by the Northern Irishman.
Liverpool are also set to nab Southampton’s Rickie Lambert and are closing in on a deal for his team-mate Adam Lallana as well.