Sportmediaset says the Reds are prepared to offer Bennacer a deal in either January or next summer. It comes against the backdrop of the 24-year-old discussing a new contract with Milan.
It has been reported that Bennacer currently earns €1.7m per season, with the player's agent seeking an increase that would see that number rise to €4m per year.
The report states that Liverpool are willing to meet those demands. Bennacer's deal at Milan runs out in the summer of 2024.
The midfielder is a former Arsenal junior and the Rossonero rate him in the €40-50m class.