At just 17 years old, Maksimovic is quickly emerging as one of the most promising young talents in Europe and has already made a notable impact at the senior level, garnering comparisons to Argentine superstar Lionel Messi.
The young midfielder made his international debut last Saturday during Serbia's 2-0 victory over Switzerland in the UEFA Nations League.
In doing so, the teenager became Serbia's youngest-ever international and is reportedly valued at around £12.4m by the SuperLiga outfit.
Liverpool interested in signing Andrija Maksimovic
According to transfer expert Christian Falk, Liverpool 'are interested' in signing Maksimovic and are closer to securing a deal for the 17-year-old than Dortmund.
Falk adds that Dortmund consider the teenager one of the next big talents in football, similar to their assessment of Jamie Bynoe-Gittens, though they have yet to make a concrete approach for his services.
It is understood that Liverpool view Maksimovic as an alternative to Dominik Szoboszlai or as a long-term successor to Mohamed Salah, given his ability to play on the right flank.
In addition to the Reds and BVB, Manchester City and Juventus are also believed to be keeping an eye on the talented midfielder.
This season, Maksimovic has already contributed to seven goals in 11 appearances across both senior and youth football for Red Star.
Liverpool eyeing up BVB defender as Van Dijk replacement
Maksimovic may not be the only player that Liverpool will be rivalling Dortmund for this year, with CaughtOffside reporting that the Reds are targeting signing Nico Schlotterbeck.
The report adds that Arne Slot is keen to bolster his defence with Virgil Van Dijk now in the final 12 months of his contract, and the Premier League giants are prepared to offer around £42m to bring the BVB defender to England.
Liverpool are believed to be working on a new deal for their club captain, who will be allowed to speak to other clubs from January, though there is no guarantee that he will accept the revised terms.
Still, the Reds may face competition for Schlotterbeck, as it is understood that Newcastle United could join the race for German international if they are unable to secure Marc Guehi from Crystal Palace.