Reading have had a bid of £3.75m – plus add-ons – accepted by Liverpool for the 23-year-old Portugal U23 centre-back Tiago Ilori.
The decision to leave for the Championship club is now down to the player.
The transfer means that Liverpool will make a small profit on Ilori, who cost them £3.5million from Sporting Lisbon in the summer of 2013 in a deal which potentially could have risen to £7million. The club have also inserted a 25% sell-on clause in the agreed contract.
Reading sit third in the Championship and boss Jaap Stam wants Ilori to help bolster their push.
The 23-year-old has spent much of his Liverpool career on loan, with spells at Spanish side Granada, French outfit Bordeaux, and Championship side Aston Villa.
Ilori, who played with Tottenham’s Eric Dier during his time at Sporting, is a Portugal youth international and represented his country in the men’s football tournament at last summer’s Rio Olympics.