The 22-year-old, who has scored twice in 32 appearances for his Portuguese club this season, is thought to be on Tottenham Hotspur's radar ahead of this summer's transfer window.
Manchester United, meanwhile, have previously been linked with a move for the Portugal international.
However, according to The Express, Liverpool are interested in signing the centre-back at the end of the 2019-20 campaign, potentially to play alongside Virgil van Dijk at the heart of their defence.
Dias came through the youth system at Benfica and has turned out for the Portuguese giants on 117 occasions in all competitions.
The defender has a contract at the Estadio da Luz until the summer of 2024, having only recently signed an extension with Bruno Lage's team.