Barcola has emerged as a priority signing for Liverpool as they look to strengthen their forward line following the exits of Luis Diaz and Mohamed Salah over the past two summers.
He joined PSG from Lyon in 2023 for a reported £38.5m and has since lifted three Ligue 1 titles, two Champions Leagues, the French Cup twice, as well as the Uefa Super Cup and the Fifa Intercontinental Cup.
The price Liverpool have agreed to pay also covers the solidarity payment PSG owe Lyon from the transfer that took Barcola to Paris three years ago.
Barcola, who scored three times for France at this summer’s World Cup, can operate on the right or through the middle and could offer cover for Alexander Isak while Hugo Ekitike recovers from a serious Achilles injury.
Speaking ahead of Saturday’s game against Nottingham Forest (12:30 BST), Reds boss Andoni Iraola was asked about Gakpo’s future and said he “cannot guarantee anything”, but hopes to keep the 27-year-old at the club.
“[Gakpo] has been very good since he came back from the World Cup and his holiday, with a very good attitude. I hope we can keep him at that level because I think he has been very influential in our games,” Iraola said.