The Australian is out of contract at the end of the month.
The 33-year-old has made just 26 appearances for Liverpool in five years, serving mainly as an understudy, but will relish the opportunity to get regular first-team football at the City Ground.
Forest need a new goalkeeper as Karl Darlow is on his way to Newcastle United. Dimitar Evtimov is a talented prospect, but one for the future, and Dorus De Vries is not always convincing.
Is Jones a good signing for Forest?
It is hard to say.
The Australian was once hotly tipped whilst at Middlesbrough but has never truly proved himself as a number one stopper.
At Liverpool, when he did play, he was always less than convincing but hopefully with age he might be ready to play regularly and have ironed out some of the difficulties in concentration he has had throughout his career.
But that lack of football must be a worry. The most he has played in a season is 23 times and in a 14-year professional career he has played just 142 games.
In that respect, he is something of a gamble but if his wages are not too pricey, a gamble worth taking.