Paul Joyce of The Times reported that Wirtz is set to sign for £100m up front that could rise to £116m in bonuses and add-ons, while The Athletic have since stated that he will sign a five-year contract at Anfield.
The German is set to become Liverpool's second summer signing after fellow Leverkusen player Jeremie Frimpong joined the Reds earlier in the transfer window.
Wirtz is reportedly set to undergo his medical in due course.
Wirtz has impressed in the Bundesliga over the last two seasons and established himself as an integral part of the team under former manager Xabi Alonso.
The 22-year-old was a key feature in Leverkusen's unbeaten 2023/24 title-winning campaign and will leave the club having recorded 57 goals and 65 assists in all competitions, also winning the Bundesliga's Player of the Season award that same campaign.
With Liverpool not taking part in the 2025 Club World Cup, Wirtz's first appearance could come in the Community Shield against Crystal Palace.