Former Tottenham star Hoddle has identified Chicharito as a good fit for Liverpool who need some sharpness up front following a goal-shy campaign without ex-star Luis Suarez and the oft-injured Daniel Sturridge.
"It would make sense for Liverpool to go for Hernandez," Hoddle wrote in his column for ZapSportz.
"He came off the bench again against Juventus in Turin this week and is clearly not going to be starter for Real. He didn't get a goal this time, but he played a little deeper. Yet he did put in a couple of dangerous crosses, and looked sharp and eager."
He added: "Clearly, Liverpool need to buy two strikers for next season and that's not going to be easy.
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