Harvey Elliott is set to undergo a medical ahead of completing a loan move to Aston Villa.
Liverpool have also agreed to an obligation to buy, set at around £35 million next summer, despite initially valuing the player at up to £50 million earlier in the window.
The 22-year-old was made available for transfer earlier this summer, as Liverpool looked to strengthen their attacking options under new head coach Arne Slot.
Elliott started just two Premier League games last season, making a total of 18 appearances for the Reds.
He joined Liverpool from Fulham in the summer of 2019, going on to win six trophies and make 147 appearances across all competitions.
Bundesliga side RB Leipzig had previously expressed interest in signing Elliott but were informed they would need to pay over £40 mi