According to the Spanish publication Mundo Deportivo, the Catalan club are in the process of negotiating with the Reds that will allow the former Inter Milan man make a switch to Camp Nou.
Coutinho is confident that his future lies – away from Anfield – at Barcelona. The Mundo Deportivo report claims the Brazil international has already started the process of house hunting in the Catalan capital.
He will be accompanied by his wife and daughter. The midfielder is keen on staying close to Luis Suarez's residence, who is Coutinho's former teammate from Liverpool, or his compatriot, Paulinho.
The South American playmaker was a transfer target for Ernesto Valverde's side in the summer. Barcelona made multiple approaches in signing Coutinho and the player himself handed in a transfer request.
However, Liverpool turned down the bids from the La Liga leaders and Jurgen Klopp's key man was forced to continue at the club. Mundo Deportivo claims the Premier League outfit promised Coutinho he will be allowed to leave in the winter transfer window.
He is relying on Liverpool's American owners to keep up their promise by opening the door for him to complete his dream switch to Spain. It is believed the price tag could be around €150m (£133.2m, $179.8m) including variables.
Liverpool face Burnley on 1 January and then host their local rivals Everton in the third round of the FA Cup on 5 January. It is believed that Coutinho's potential switch to Barcelona will kick-start after the end of the busy period for Klopp's side.
The English club have already agreed to a deal with Southampton for Virgil van Dijk. Liverpool have splashed £75m ($101.4m) on the Dutch international, who became the most expensive defender in the world.
It was widely reported and discussed that Van Dijk's fee could be raised by allowing Coutinho join Barcelona. However, Klopp was quick to play down those suggestions, while he remained coy on the 26-year-old's long-term future at the club.
"Nobody told me that. I have no information about that. No. There is nothing to say. The only thing I am interested in is how Phil is playing at the moment," Klopp explained.
"In my business, it makes absolutely no sense to talk about things that ''could'', ''maybe'' happen because all it does is create stories which 90 percent of the time are not true. Why should we do that?"
Coutinho has been a No.1 target for Valverde and if the reports are to be believed, Liverpool star is expected to be Barcelona first signing of the January transfer window. He will arrive at Camp Nou for a club-record fee.