The 21-year-old moved to Anfield on loan in January and has made 13 appearances for the Reds in all competitions, including nine outings in the Premier League.
At one stage, it appeared likely that Jurgen Klopp's side would pay the £18m required to turn the loan deal into a permanent one ahead of the 2021-22 campaign.
As a result, the Reds will send the 21-year-old back to his parent club, who are still expected to attempt to move the defender on due to their financial problems.
The Turkey international has missed Liverpool's last two Premier League matches against Southampton and Manchester United through injury. body check tags ::