Wharton, 22, has been a key player for Crystal Palace this season, featuring in 46 games across all competitions.
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According to journalist Matteo Morreto, Liverpool are already in ‘advanced talks’ over a deal for Wharton, with the deal expected to be worth £70 million.
It’s understood that Wharton is open to leaving Palace in search of a new adventure, and the club won’t stand in his way.
Should the deal happen, it would be a record sale for Crystal Palace narrowly surpassing the £68m Arsenal paid for Eberechi Eze last summer.