The Reds had been linked with a move for the Hoffenheim player.
Hoffenheim Director of Football Alexander Rosen has conceded Volland will make a step up eventually, but his future for now remains undecided.
The German international is said to be on his way this summer.
Sunderland are interested in Hoffenheim's Kevin Volland, according to reports.
Winger Kevin Volland has been linked with a move to the Premier League this summer and showed just why with a superb goal in the Bundesliga.
The German international has been in good form over recent weeks and could be a clever addition at Anfield or the Emirates Stadium.
Hoffenheim believe they can keep Liverpool linked Kevin Volland and Roberto Firmino.
Kevin Volland, a reported transfer target for Liverpool and Arsenal, is interesting Real Madrid.
The omission of Arsenal and Liverpool transfer target Kevin Volland is a controversial topic in Germany.
We take a look at three bargain buys Arsenal could make this summer ahead of another title challenge next season.