The 26-year-old has again been an important player for his Italian club this season, making 31 appearances in all competitions, contributing six goals and five assists in the process.
Correa has a contract with Lazio until the summer of 2024, but there is believed to be a £80m release clause in his deal at Stadio Olimpico.
According to Il Messaggero, Liverpool have approached I Biancocelesti to enquire over a move for the attacker during this summer's transfer window.
The report claims that Lazio's financial problems mean that the Argentina international could be available for around £40m ahead of the 2021-22 campaign.
Correa has scored 25 goals and registered 17 assists in 110 appearances for his Italian club since arriving from Sevilla in the summer of 2018. body check tags ::