The 28-year-old has spent his entire club career in his native Croatia including the last eight years on the books at Dinamo Zagreb, keeping 131 clean sheets in 283 appearances across all competitions.
Livakovic is regarded as a key player for club and country and he recently earned plenty of plaudits for his display with the latter at the 2022 World Cup in Qatar, as the Checkered Ones went on to win the third-place playoff.
The 45-cap shot-stopper became just the third goalkeeper in World Cup history to save three penalties in a shootout victory over Japan in the last 16, before saving another crucial spot kick to help Croatia beat Brazil on penalties in the quarter-finals.
Livakovic, who was also a losing finalist with Croatia in the UEFA Nations League earlier this year, has won five Croatian top-flight titles and two Croatian Cups with Dinamo Zagreb, while he also represented his club in the Champions League in three different seasons.
Livakovic has now entered the final year of his contract with Dinamo Zagreb and a number of European clubs are believed to be monitoring his situation.
Premier League giants Manchester United were credited with an interest earlier this year, with manager Erik ten Hag now on the lookout for a new number one following the departure of David de Gea.
However, the Red Devils appear to be prioritising a summer swoop for Inter Milan's Andre Onana, who is allegedly closing in on a €55m (£47.1m) move to Old Trafford.
Onana's impending transfer to Man United has therefore paved the way for other clubs to step up their interest in Livakovic, and Sky Sports News claims that Scottish Premiership champions Celtic have identified the Croatian as a possible summer target.
The report adds that the Hoops could be rivaled by Villarreal and Fenerbahce for the goalkeeper's signature, but Fiorentina are understood to have cooled their interest.
Celtic are said to be in the market for a new goalkeeper to provide competition for current number one Joe Hart, but they are yet to table a formal offer for Livakovic.
Hart, 36, has made over 100 appearances for the Glaswegian giants since joining the club in 2021, keeping 20 clean sheets in 50 games during their domestic treble-winning campaign in 2022-23.
Benjamin Siegrist and Scott Bain both acted as cover for Hart last season and remain goalkeeping options for newly-appointed manager Brendan Rodgers, who is currently assessing his first-team squad at their pre-season training camp in Portugal.
Celtic announced the departure of Northern Irish shot-stopper Conor Hazard to Plymouth Argyle on a permanent deal earlier this week, with the Hoops understood to have received around £150,000 for the 25-year-old.