The 23-year-old starred in the Champions League on Wednesday night, scoring a hat-trick against Manchester City, though the German club were thrashed 6-3 in a thrilling encounter at the Etihad Stadium.
According to the Liverpool Echo, Jurgen Klopp continues to search for new attacking options and has identified Nkunku as a potential signing.
The Reds have a strong relationship with the Red Bull franchise, having previously signed players including Sadio Mane, Naby Keita, Takumi Minamino and also this summer's addition Ibrahima Konate.
Nkunku came through the ranks at Paris Saint-Germain and played 78 times for the senior side before joining Leipzig in July 2019.
The Frenchman enjoyed a successful campaign in front of goal last season, scoring seven times and providing 11 assists in 40 appearances across all competitions.
CSKA Moscow 
FC Rostov 
Leicester 
Chelsea 
Valencia 
Betis 
Dynamo Kyiv 
Chornomorets Odesa 
Verona 
Inter 
Bayer Leverkusen 
FC Heidenheim 
Borussia Dortmund 
SC Freiburg 
VFL Wolfsburg 
Union Berlin 
Arsenal 
Nottingham Forest 
Everton 
Brentford 
Spartak Moscow 
Lokomotiv Moscow 
Rangers 
Dundee Utd 
Atletico Madrid 
Alaves 
Lens 
Marseille 
Ingulets Petrove 
Shakhtar Donetsk 
AC Milan 
Juventus 
ST Malo 
Bordeaux 
Manchester City 
Tottenham 
Eintracht Frankfurt 
Werder Bremen 
Girona 
Espanyol 
Feyenoord 
Heerenveen 
ST Etienne 
Montpellier 
Grenoble Foot 38 
Heart Of Midlothian 
Celtic 
Reims 
Lyon 
PSV 
Groningen 
Celta Vigo 
Barcelona 
Benfica 
Estrela Da Amadora 
Sparta Rotterdam 
AZ Alkmaar 
Southampton 
Liverpool