The Bayer Leverkusen starlet has garnered a reputation as one of the Bundesliga's brightest talents, having already made over 80 appearances for the club after making his professional debut in 2014.
According to the Liverpool Echo, Jurgen Klopp is a huge admirer of the 20-year-old and plans to test Bayer's resolve this summer, having been told the player is not for sale during the January transfer window.
Liverpool were disappointed to learn last week that Borussia Monchengladbach midfielder Mahmoud Dahoud had chosen to stay in Germany and join Borussia Dortmund, rather than move to Anfield, with similar concerns over Brandt.
Last Friday, Bild claimed Brandt had notified German champions Bayern of his intention to join the club this summer. He is under contract at Leverkusen until 2019 but a clause in his contract means he could leave for as little as €12.5million in the summer of 2018.
However, his father Jurgen, who also serves as his agent, has denied claims there is already a deal in place for his son to move to the Allianz Arena.
"It is fake news that Julian has agreed terms with Bayern," Brandt told Kicker. "Julian has never been in the situation where he had to – or wanted to – make a decision on his future."
Bayern are already in the process of adding to their squad ahead of next season, cherry-picking two key players from of the sides who attempted to dethrone them this season in Hoffenheim,
The club confirmed in March they have deals in place to sign 21-year-old defender Niklas Sule and 27-year-old Germany international Sebastian Rudy this summer.