Reds boss Rafa Benitez has informed Leto he is willing to loan him out as he is well down the pecking order at Anfield.
The 21-year-old has revealed he has spoken to Olympiakos manager Ernesto Valverde and he admits he would be interested in a move to Greece.
"I spoke with the people of the club (Liverpool) and our decision is to leave the club and to play somewhere else on loan for one season," Leto told Greek daily SportDay. "I have to play football next season.
"My agents are in Athens. They speak with Olympiakos for my loan.
"Their manager, Ernesto Valverde called me. He told me that he is really interested in having me at his team. He told me about his thoughts and everything. For me it's really important to have a manager who speaks my language.
"I spoke with some friends who know everything about Olympiakos and they told me that this is the biggest club in Greece, that they always win the championship and they always play Champions League football.
"I heard a lot also about the fans of Olympiakos. I know also that Galletti, Ledesma and Belluschi are players of Olympiakos and they are really good, they are players of national team level.
"I have some offers from Italy and Spain but Olympiakos is the best club for me at the moment."