The 18-year-old only made his first-team debut for the Brazilian giants in April 2023 but has already featured in 32 matches across all competitions.
Operating mostly on the flanks, Guilherme has caught the eye with his speed as Palmeiras raced to the Serie A title ahead of second-placed Gremio in 2023.
The starlet also possesses international pedigree despite his tender years, featuring for Brazil at Under-20 level, even though he only turned 18 at the beginning of February.
According to Football Insider, Liverpool are plotting a summer move for Guilherme as he looks destined for a switch to European football in the near future.
The report claims that Jurgen Klopp's men were considering a January swoop for the midfielder but ultimately decided against firming up their interest.
However, it is expected that the title-chasing Reds will launch a formal bid for Guilherme ahead of the 2024-25 campaign - the club's first season without Klopp in nine years.
Palmeiras are renowned as a club at which young players can hone their craft ahead of a big-money move to one of Europe's top sides, with Endrick agreeing to join Real Madrid in the summer.
It is understood that Premier League clubs have been monitoring the progress of Guilherme for some time, with Manchester United, Manchester City, Arsenal and Chelsea all credited with an interest in the 18-year-old last year.
Despite a lot of eyes keeping tabs on the winger, he did not secure a winter move away from Palmeiras, however Liverpool are said to have made the Brazilian a top target for the next window.
Following the departures of Fabinho and Jordan Henderson to the Saudi Pro League last summer, Klopp's side was given a midfield makeover ahead of the current season.
Alexis Mac Allister, Dominik Szoboszlai, Ryan Gravenberch and Wataru Endo all arrived at Anfield to complement academy graduates Harvey Elliot and Curtis Jones in the engine room.
Liverpool remain on track for a quartet of trophies during Klopp's last season in charge of the club, with the Reds currently two points ahead of second-placed Arsenal in the Premier League standings.
After thrashing Thomas Frank's Brentford 4-1 at the Gtech Community Stadium, the league leaders will welcome Luton Town to Anfield on Wednesday night.