The England and Borussia Dortmund star is now one of the most sought after players in the transfer market.
Bellingham is likely to leave Dortmund in the summer, after starring at the World Cup with the Three Lions.
Asked about Bellingham while commentating on the World Cup, Souness said: “We don't have enough time [to discuss his quality], he is fabulous and is destined to be a star.
“He is getting a fantastic education at Dortmund, next year he will leave and the really big guys will come in, if it's a bidding war between Man City and Real Madrid, it's up to the boy where he ends up.
“You see everything a midfielder needs to have in him, wonderfully athletic, great size, it's hard to pick a fault in him, I think he will be an absolute stars.
“I don't think he will end up at Liverpool, unless they get new owners we can't afford him. All the big guys will be after him."