The Algerian is a free agent in the summer.
The two teams are taking each other on in the Premier League in the early afternoon kick-off today but now it seems they will be going into battle for a potential bargain this summer.
The Algerian speedster is out of contract in Valencia this summer and is all set to leave the club.
It is reported in Turkish daily Takvim that Feghouli is wanted by Liverpool, as well as Inter Milan, AS Roma, Tottenham and the club they think will be signing Feghouli, Fenerbahce.
They believe that Fenerbahce are willing to offer Feghouli a salary of around three million euros a year to outdo the Premier League and Serie A clubs in the race for the player.
Feghouli is a highly talented option for Liverpool. He plays wide in the midfield and that is certainly an area that Liverpool certainly need to improve at the moment.
Time will tell if new boss Jurgen Klopp is actually interested in the Algerian talent as he would be a decent acquisition.