The Reds are reportedly tracking El Ghazi as they look to add a winger to their ranks.
Reds manager Jurgen Klopp has already brought in six new players in the summer transfer window including attacking midfielder Georginio Wijnaldum and forward Sadio Mane.
However, amongst the 11 players to leave the club permanently was young winger Jordon Ibe, who completed a £15 million move to Bournemouth.
Though Klopp still has Lazar Markovic and teenager Sheyi Ojo in his squad who count their primary position as a winger, along with the likes of Adam Lallana and Philippe Coutinho who can play on the flanks, Ibe's sale leaves wide midfield as a position in which Liverpool are now fairly light.
According to Dutch radio station Voetbal, via the Echo, Klopp has identified a potential solution to that issue in the form of Ajax winger Anwar El Ghazi.
The Reds were reported to be looking at the 21-year-old earlier in 2016, and though the trail went cold for a while the latest report suggests that interest has not gone away.
The Ajax number seven has established himself as one of the club's brightest young stars over the last two years and is now a fully-fledged key member of their side, having scored 21 goals in 80 appearances in his first two seasons in their first team.
The report alleges that Liverpool will have to battle with German side Wolfsburg and Italian club Lazio for his signature if Klopp wants to add the Netherlands international to his Anfield revolution.