The Reds have been targeting the left-back for a number of months and were reportedly given the green light to enter discussions after having a bid of around £17.9million accepted last week.
According to the Daily Mail, the 21-year-old, will fly to England with his father and agent Javier Moya to discuss personal terms with the Anfield outfit on Monday.
Moreno attended the wedding of Liverpool midfielder Luis Alberto last week and the Reds man gave a glowing recommendation of Anfield, according to Spanish newspaper Estadio Deportivo.
The fee is said to be around £16.2million, and could rise closer to £18million due to performance-based add-ons.
Liverpool had been reportedly looking at striking a deal for Chelsea left-back Ashley Cole, but manager Brendan Rodgers believes that the Spanish international is a long-term solution to a position that plagued the Reds for years.
Jose Enrique is currently first choice for the spot at Anfield, but the Spaniard spent most of the season on the sidelines last term.
Aly Cissokho's inability to adapt to Premier League football meant youngster Jon Flanagan was asked to play on the left, away from his natural position as a right-sided full-back.
However after watching Moreno play a big part in Sevilla's Europa League-winning exploits, Rodgers is willing to spend big money on the defender as looks to build a squad capable of competing in both the Premier League and the Champions League next season.
Moreno was part of Spain's preliminary World Cup squad before he was eventually cut from the 30-man contingent as Vicente del Bosque finalised his 23-man team for the Brazil tournament.
The signing of Moreno will comes hot on the heels on the addition of Rickie Lambert, after the England striker joined from Southampton for around £4 million, and a deal for Bayer Leverkusen's Emre Can also appears close after the five-time European Cup winners triggered the £9.75 million release clause in the midfielder's contract.