Coutinho has been continually linked with a summer switch, but it was Barcelona that was believed to be leading the race for the midfielder.
Liverpool signed Coutinho to a long term deal at the start of 2017 and are thought to have no interest in parting ways with their talisman.
But, Telefoot claim the Reds have told PSG Coutinho is available this summer – if they pay the €100million (£87m) asking price.
Coutinho has gone from strength to strength under Jurgen Klopp at Anfield and was Liverpool’s most influential attacker last season.
The Brazil international scored 13 goals and provided seven assists in the Premier League last campaign.
Coutinho also created 65 chances in what was an excellent season and the 25-year-old is now firmly on the radar of the biggest clubs in Europe.
Coutinho's 2016/17 PL season
Chances created: 65
Key passes: 58
Pass completion: 83%
Successful take-ons: 71
Klopp has repeatedly dismissed speculation linking Coutinho with Barcelona and the playmaker has never publicly said he wants to leave Liverpool.
The Reds are planning a big summer of spending as they target breaking their club record three times.
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A club-record deal for Mohamed Salah has already gone through while Liverpool are preparing an offer in the region of £70m for Naby Keita.
Reports in Spain claimed recently that Barcelona had cooled their interest in Coutinho to focus on other targets.
Marco Verratti is now their priority, but the Catalan giants have not ruled out re-igniting their pursuit and believe Coutinho is open to a move to the Nou Camp.