The Greek international is set to depart Schalke 04 in the summer.
The report claimed that Liverpool would be able to snap up the talented defender for a fee in the region of just £5 million.
Schalke have just signed Matija Nastasic from Manchester City, which leaves Papadopoulos in an uphill battle for first-team football when he returns from a loan spell with Bayer Leverkusen.
Liverpool have been linked with him before and he is undoubtedly a talented defender - although his injury problems have often belittled his talents.
But whether Liverpool want him or not, it seems as though he will be staying in Germany with current loan club Bayer.
It is reported by Bild that Bayer are all set to make a €6 million bid for the player, apparently matching his previously agreed release fee from the loan contract.
Much depends on the future of Schalke star Benedikt Howedes, who could leave the club this summer, but regardless of what happens with the German World Cup winner it looks as though Schalke will happily allow the Liverpool target to join Bayer in the summer.