The Reds are likely to complete a total of three deals in the current window, with Portugal starlet Fabio Carvalho joining from Fulham after the club tried and failed to get a deal over the line in January.
Darwin Nunez has also arrived from Benfica in what could end up being a club-record deal, with the Uruguay striker costing an initial £64.1m which could rise to £85.4m with add-ons.
Liverpool are understood to have agreed a deal to sign 18-year-old right-back Calvin Ramsay from Aberdeen for an initial £4m, and the Scotland Under-21 international will soon travel to Merseyside to complete his medical.
Jurgen Klopp's side have been tipped to bolster their midfield ranks during the summer window as well, but they lost out on the signature of Aurelien Tchouameni to Real Madrid.
According to The Times, Klopp is therefore prepared to hold off on signing a new lynchpin for another 12 months and is already content with the options in his ranks at Anfield.
The report adds that Liverpool are determined not to sign 'stop-gaps' and will instead wait until 2023 before seeking out midfield targets.
Borussia Dortmund starlet Jude Bellingham is understood to be on Liverpool's radar, but the 18-year-old has already affirmed that he will remain at the Westfalenstadion for another 12 months.
Dortmund's sale of Erling Braut Haaland to Manchester City has effectively ended Bellingham's chances of a move elsewhere this summer, but a bidding war could commence for the England international next year.
Klopp already has Jordan Henderson, Fabinho, Thiago Alcantara, Curtis Jones, Harvey Elliott, Naby Keita and James Milner jostling for places in the midfield, and the latter recently signed a one-year contract extension on Merseyside.
In spite of their reluctance to sign a new midfielder this summer, Liverpool will likely be happy to offload Alex Oxlade-Chamberlain, whose own contract expires in 12 months' time.
A fee of £10m could be enough to prise Oxlade-Chamberlain away from Liverpool, and the ex-Arsenal man has been linked with the likes of Manchester United and Aston Villa.
Divock Origi and Loris Karius will officially leave the club as free agents at the end of the month, and Neco Williams, Nat Phillips, Takumi Minamino and Sadio Mane could all follow them out of the exit door.
Bayern Munich are understood to be preparing a third offer for Mane, who has already agreed personal terms with the German champions over a three-year contract.
The Premier League's fixture list for the 2022-23 season was also released on Thursday morning, and Liverpool begin the campaign against a newly-promoted side for a fourth year running as they travel to Fulham on August 6.