The Reds are believed to be keen on the 24-year-old with Manchester City and Juventus also in pursuit.
Out of contract at the end of the current season, Zakaria is expected to be a transfer target in January as Monchengladbach look to cut their losses.
The report claims that the 40-cap Switzerland ace’s contract ‘will not be renewed’ at the Bundesliga club.
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Valued at £24.3million (Transfermarkt), signing the combative Swiss star at a reduced fee in January would be an exceptional piece of business.
Seemingly fully recovered from any major injury issues, Zakaria presents a relatively risk-free option to bolster the midfield options at Jurgen Klopp’s disposal.
Predominantly a defensive midfielder, the former Young Boys starlet can operate in more advanced roles and possesses impressive dribbling skills.