In the latest transfer news, Southampton forward will swap the South Coast for the Mersey in a move that initially "surprised" an Anfield great.
The move is subject to a medical examination, which the England international will undergo on Saturday.
Lambert is part of the provisional 23-man Three Lions roster who Roy Hodgson will take him to Brazil, in order to compete in the anticipated FIFA World Cup tournament in Brazil, due to begin next month.
Lambert, 32, spent five years as an academy prospect at Liverpool but failed to earn a professional contract. He then spent a number of years in the lower divisions, yet has come-of-age at St Mary's Stadium, returning a 1:2 games:goals ratio thanks to a 117 goal haul from 235 outings.
Commenting on the switch, a former Kop king Michael Owen expressed his "surprise" at the deal, but added: "The more I think about it the more it makes sense. At 32, he won't expect to play every game. Sturridge is prone to the odd injury and Liverpool have more games to play next season."
Lambert linked to Liverpool then? Surprised at first but the more I think about it the more it makes sense.— michael owen (@themichaelowen) May 30, 2014
At 32 he won't expect to play every game. Sturridge is prone to the odd injury and Liverpool have more games to play next season.— michael owen (@themichaelowen) May 30, 2014