The Reds managed to keep their Brazil worldwide at Anfield beyond the summer transfer window despite Barcelona's numerous attempts to sign the number 10.
The report reads: "Barcelona is paying attention to the 21-year-old Tottenham Hotspur midfielder as an alternative to Philippe Coutinho".
Coutinho has risen to the fore on Merseyside in recent years, and attracted serious interest from Spanish giants Barcelona over the summer.
Barcelona president Josep Maria Bartomeu recently suggested that the club would not make a new attempt to sign him in January due to the Reds' high demands.
With Liverpool this week learning that star man Sadio Mane is to be out for up to 10 weeks with a hamstring injury, their reluctance to part with Coutinho is likely to be stronger than ever. It's now claimed an offer of £134million will tempt them to cash in.
According to fresh Spanish reports however, the Brazilian is expecting to make a mid-season departure and join up with Barca in January, despite being cup-tied in the Premier League.
Seeing no other way to try and force his move to Barca, Coutinho agreed to Liverpool's wishes and has already represented the club in draws with Sevilla and Spartak Moscow.
It's also claimed that Coutinho was determined not to play for Liverpool in this season's Champions League to ensure he wasn't cup tied for Barcelona later on in the competition.
Last week, Mundo Deportivo reported that Barcelona hoped Liverpool will soften their stance with the club hopeful of complete a deal for the same €80m (£71.6m, $94.5m) plus €30m in add-ons package which the Merseysiders rejected in the summer.