Liverpool have reached an agreement with Bayern Munich to sign midfielder Ryan Gravenberch, sources have told ESPN's Mark Ogden.
The two clubs agreed a fee of €40 million ($43.4m), with Gravenberch set to undergo a medical in Liverpool late Thursday or Friday.
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Gravenberch, 21, has spent just a single season at Bayern after signing from Ajax Amsterdam last summer on a five-year deal.
The Netherlands international will bolster a Liverpool midfield that has seen the departures of several key players this summer.
After Naby Keita, James Milner and Alex Oxlade-Chamberlain left following the expiration of their contracts, manager Jurgen Klopp also lost Jordan Henderson and Fabinho following their surprise transfers to the cash-rich Saudi Pro League.
Liverpool have failed in negotiations to sign multiple replacements this transfer window, with Moisés Caicedo and Romeo Lavia both opting to join Chelsea rather than the Merseyside club.
Earlier this month, they succeeded in the signing of Japanese midfielder Wataru Endo from VfB Stuttgart for a reported £16 million ($20.33m) fee.
Gravenberch would be Liverpool's fourth signing of the summer, after the earlier arrivals of Alexis Mac Allister and Dominik Szoboszlai.
The Ajax academy graduate has made 34 appearances for Bayern, but started just three games in the Bundesliga. He has 11 caps for the Netherlands.