Brendan Rodgers made signing a left back his priority earlier this summer and singled out the 22-year-old as his number one target. The Premier League club confirmed the impending move for the 22-year-old, after he was withdrawn from the Sevilla's squad for its 2-0 defeat to Real Madrid in the UEFA Super Cup final on Tuesday.
However, Liverpool chief executive Ian Ayre managed to thrash out a deal for Moreno in Cardiff before the game that Real won 2-0, and the player was withdrawn from the side. The Spain international, who came through his home-town club's youth system, is now set to undergo a medical at Anfield and discuss personal terms.
A statement on the Liverpool club website read: "Liverpool can confirm they have reached an agreement with Sevilla for the transfer of Spain international fullback Alberto Moreno. The Reds will proceed with the formalities of finalizing the deal for the 22-year-old over the coming days and will make no further announcement until it is complete."
There were emotional scenes on Tuesday night in Cardiff after the Super Cup among the Sevilla players and staff who were hugging a tearful Moreno on the pitch. Sevilla coach Emery insisted Moreno would leave with the club's blessing and said: "We didn't have any clear expectation (about the transfer being completed), but it was in our minds.
"This has been in the offing for a month and a half or two. We were aware of the need to take him out of the squad. And we were in England and close to the teams who are interested in Alberto. Maybe decisions are speeding up because we are getting towards the end of the transfer window (on Aug. 31). We want to wish all the best to Alberto Moreno and we need to continue with our path. He's a player we can no longer count on."
Moreno will become Liverpool's eighth signing of the summer transfer window, while his arrival is likely to see Martin Kelly join Crystal Palace. The 24-year-old defender has made more than 30 appearances for Liverpool since making his first-team debut in 2007, but it seems he could be on his way to Selhurst Park.
The Reds signed many players this summer, including Southampton trio Rickie Lambert, Adam Lallana and Dejan Lovren, Emre Can from Bayer Leverkusen and Lazar Markovic from Benfica. They also added defender Javier Manquillo on loan from Atletico Madrid and signed striker Divock Origi before returning him to former club Lille for the season.
Rodgers told the club's official website: "We would still like to do some business. Across the board, we still want to add a little bit more depth to what we have." Rodgers is believed to be prioritizing another forward following the sale of Luis Suarez to Barcelona for £75 million.
A move for QPR's French striker Loic Remy fell through last month, after what was reported to be a failed medical. And they have been linked with a move for former Chelsea striker Samuel Eto'o.
Information from The Associated Press was used in this report.