Cameron Brannagan was previously linked with a move to Wanderers last December, but ultimately moved to fellow promotion chasers Fleetwood Town.
The youngster played 14 games for The Code Army, including an appearance in the Play-Offs against Bradford City.
Brannagan, 21, can play in a number of positions, with his preferred position being an advanced midfield role.
The young starlet made his Liverpool debut in the 2015/2016 season, coming on as a substitute in a Europa League match against Bordeaux. Brannagan went on to play nine times in all competitions, but didn't play for Liverpool last season.
Liverpool manager Jurgen Klopp holds Brannagan in high regard, having previously described him as a 'unbelievable talent'. Klopp has also previously stated: “For his age he brings everything you need for a midfield player he wants to play football, he's strong, he's clear, he's cool.”
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