Adam Lallana, Xherdan Shaqiri and Emre Can are the three players on top of Brendan Rodgers' list as he looks to strengthen his squad in anticipation of their return to the Champions League, according to the Daily Mail.
The former Swansea manager has made Lallana his prime target in the summer but Southampton are unwilling to budge for a fee less than £30m.
Lallana has been the standout player for the Saints this season, scoring nine goals and assisting six in the league and was named in the PFA Team of the Year ahead of the likes of Aaron Ramsey and Jordan Henderson.
His performance has earned him a call-up to the English national squad to travel to the World Cup in Brazil, a dream come true for a player who was plying his trade in League One a couple of seasons back.
However, the move is far from done and is unlikely to gain traction before the World Cup with the Reds keeping Xherdan Shaqiri as a backup option if they fail to agree terms with Southampton.
Rodgers is also close to securing a deal with Bayer Leverkusen for Emre Can, who has been in brilliant form this season and the Reds are willing to meet his release clause to bring him to Anfield.
The manager has signed a new long term contract at the club and is looking to take Liverpool to winning the title after falling short by two points in the recently concluded season.
The northern Irishman is hoping that he can finally persuade players to make the trip to Anfield without having to compromise on Champions League football, as was the case when they missed out on Henrikh Mkhitaryan, Willian and others last season.
"The best players want to play in the big competition. That's the fight and I certainly found that last summer but we've put Liverpool back on the map now. Everyone sees that we're going to be a threat; that we're going to go into Europe next year and we'll have no fear," Rodgers said.
"We need to pay attention in terms of the teams we'll be playing against, but we'll have no fear. That's what top players want – they want to play in teams where they can show their talents," he added.