The 18-year-old, who can play as a forward or as a winger, has been at Charlton his entire professional career so far and has a contract until June 2020.
According to the British newspaper, Lookman, who has scored five goals in 16 starts for Charlton this season, is rated at £6 million.
Liverpool are not the only Premier League club interested in the teenage talent, though. According to a report in The Daily Star last month, Tottenham Hotspur and Southampton are also interested in the youngster.
Lookman is highly rated and is one of the best young players in the lower leagues, and it would be hard for Charlton to keep hold of him.
With as many as three Premier League clubs reportedly interested in him, it will be interesting to see which team the Charlton teenager opts for, if indeed he decides to leave The Valley in the summer transfer window.