Liverpool manager Jurgen Klopp has reportedly added Fernando to his shortlist of summer transfer targets.
The 28-year-old has featured on 31 occasions for Manchester City this season, but there have been suggestions that incoming boss Pep Guardiola will deem him surplus to requirements upon his arrival in July.
According to The Sun, Klopp will make a move for the Brazilian if that proves to be the case.
However, the report adds that the Merseysiders may face competition from Fernando's former club Porto, who are said to be keen to take him back to the Estadio do Dragao.
It is believed that the midfielder is valued at around £10m.