Glatzel plied his trade at Prenton Park during the 2021-22 campaign and enjoyed a productive spell with the League Two club, producing six goals and five assists in 21 appearances.
The former Germany Under-18 international does not have a route into the first team at Liverpool at present, though, and he is yet to make his senior debut for Jurgen Klopp's side.
As a result, Tranmere have welcomed Glatzel back to Prenton Park on another temporary deal, and the striker's long-term future is also in doubt, with his Liverpool contract up next summer.
Since rising through the youth ranks at Anfield, Glatzel has amassed 21 goals in 27 appearances for the club's Under-18s, as well as four goals and five assists at Under-21 level.
The German captained Liverpool's young prospects to FA Youth Cup glory in the 2018-19 season - scoring eight goals along the way - and follows the likes of Rhys Williams, Conor Bradley, Billy Koumetio, Tyler Morton and Sepp van den Berg out on loan.
In terms of deadline-day incomings, Liverpool are believed to be closing in on the signing of Juventus midfielder Arthur on loan following injuries to Jordan Henderson, Thiago Alcantara, Naby Keita and Alex Oxlade-Chamberlain,