The Sun says Wigan winger N'Zogbia, 25, is top of Kop boss Kenny Dalglish's wanted list.
N'Zogbia caught Dalglish's eye with his brilliant form as Wigan took eight points from their last four games to avoid relegation.
He scored four times, including the all-important stoppage-time winner against West Ham.
Wigan turned down a £12m bid from Birmingham in January. But the French international only has a year left on his contract and the Latics would find it difficult to resist an improved bid from Liverpool.