Despite signing from Sporting in 2013, the Portuguese star is still yet to make an appearance for Liverpool, and was linked with Sunderland earlier this summer.
Ilori has had an extended break after playing international football this summer, before becoming a father for the first time, but will now be eager to make his Liverpool debut.
The young Portuguese defender, who was linked to Sunderland earlier this summer by the Chronicle, was signed by the Reds in 2013, going on to take in a couple of loan spells in the two season that followed.
Firstly, Ilori spent a six month loan at Granada in La Liga, where he made nine appearances for the Andalusian side, before the 22-year-old spent the entirety of last season on loan at Bordeaux in Ligue 1.
The former Sporting man got a little more play time this time round, making 15 appearances and scoring one goal under famed French defensive star Willy Sagnol, and helping Les Girondins to an impressive 6th place finish.
Ilori was also involved in Portugal's European Under-21 Championship tournament this summer, featuring in all but one of their matches as his country impressed fans with their play. The youngster played all 120 minutes of the final as his side came up just short against Sweden.
The target for Ilori now, as he approaches a vital age as a young defender, is to finally make his first appearance for the Reds, and more than that, manage to put together some regular appearances this season at Anfield, perhaps in the Europa League and domestic cup competitions. Otherwise, another loan move, this time to a Premier League side, would be a good decision.
But with central defence a problem for Liverpool over the last couple of seasons, he may well get a chance to impress at Anfield.