AC Milan, Barcelona and Juventus are cited as the other clubs keen on the 22-year-old with a £25million price tag.
Signed by Arsenal from the famous Ajax academy before heading back to his homeland, the Dutchman has impressed with his ability to play across the frontline and his strengths lie with his passing, finishing and dribbling ability.
Jurgen Klopp is likely to be in the market for a forward this summer after the previously ever-reliable front three fell below their usual levels this season.
Mohamed Salah has been the standout performer for the Reds during this campaign, the Egyptian has scored 19 goals so far in the Premier League with Tottenham Hotspur's Harry Kane the only forward ahead of him in the race for the Golden Boot with 21 goals.
Sadio Mane and Roberto Firmino have come under fire in their own right over recent months. The Senegal international added to his tally, ending a nine-match spell without a goal on Monday against Leeds, taking him to eight goals this season he is 10 goals worse off from Liverpool's title-winning season with six fixtures remaining.
The 29-year-old Brazilian isn't well-known for his goalscoring exploits but in a poor season for the 19-time English champions, his finishing in the final third has been highlighted.
Diogo Jota has already proven to be an impressive addition to the attacking ranks, however, further options may be required as Divock Origi looks set to end a seven-year Anfield stay with various reports suggesting the Belgian could seek pastures new.
Whether Malen is the primary target this summer remains to be seen, albeit he would represent shrewd business and on the face of things, looks a very modern-day Liverpool-style transfer.