The Bundesliga giants are considering a summer bid for the Netherlands international according to the Dutch media.
The Netherlands international has been a revelation over the last 18 months, with his 20 league goals this season firing PSV Eindhoven to the Eredivisie title.
With Depay looking set to leave his homeland for a major European club this summer, a move to Anfield would surely turn the Kop’s current feeling of malaise into excitement ahead of next season.
Brendan Rodgers is under pressure after elimination from the FA Cup and Champions League qualification looking unlikely.
However, the Reds are set to have some fierce competition for Depay's signature, with Dutch newspaper Eindhovens Dagblad claiming that Bayern Munich are ready to enter the race for the 21-year-old’s signature.
The Bundesliga champions have the ageing Franck Ribery and Arjen Robben on their wings and as such will surely be looking for potential long-term successors.
Depay seemingly fits the bill for both Bayern and Liverpool, with a battle for the flying winger’s services set to ensue this summer.