The 21-year-old Scouser, who has captained the club at youth level, is considered a big prospect at Anfield and boss Rafa Benitez is keen to get him out on loan.
Elland Road boss Simon Grayson is interested and hopes to seal a deal.
Milan Jovanovic Over The Moon With Liverpool Move
The Serbian attacker is delighted to have agreed terms with Liverpool...
Serbian international Milan Jovanovic initially appeared to be on his way to Serie A giants Milan, then Valencia seemed to be his next destination, but the Standard Liege forward has now agreed terms with Liverpool instead.
The player's agent Zoran Stojadinovic revealed on Monday that the Merseysiders have beaten a number of clubs to seal a deal for Jovanovic, who will join in the summer on a free transfer, and the forward has now confirmed the move.
"We have reached an agreement for three years, with the option to extend with another season. I have yet to undergo a medical exam, but that shouldn't be a problem," said Jovanovic to Sporza.
"I don't have any physical problems and I'm feeling perfectly fit. I opted to sign for Liverpool because they're one of the biggest teams around in Europe. They're definitely among the 10 biggest sides.
"I'm absolutely delighted that the deal is completed. From now on, I can focus on Standard Liege again. I want to leave the club in a good way."