Harry Wilson will only leave Liverpool on a permanent deal this summer - otherwise he will be part of Jurgen Klopp's squad for the 2020/21 campaign.
Both club and player have agreed his season-long loan to Bournemouth last year was his last temporary move away from Anfield.
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A number of Premier League clubs have been linked with Wilson including Aston Villa and Wolves but both are currently focussed on strengthening in other positions on the field.
At 23 and already a full Wales international, the Liverpool academy graduate is keen for regular first-team football, having contributed seven goals in 31 Premier League appearances for Bournemouth last season.
Wilson has also spent time on loan at Crewe, Hull and Derby, where he was part of Frank Lampard's squad that almost won promotion from the Championship.
Liverpool's only new arrival this summer has been Greek left-back Konstantinos Tsimikas, who has been signed to provide cover for Andy Robertson.
The Premier League champions have also been heavily linked with Bayern Munich midfielder Thiago Alcantara, whose arrival could potentially hasten Wilson's exit.
Liverpool face Arsenal in the Community Shield on Saturday, before starting the defence of their Premier League title against newly promoted Leeds on September 12.
Premier League ins and outs
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The summer transfer window will run for 10 weeks from July 27 and close at 11pm on October 5.
A domestic-only window for trades between the Premier League and EFL then runs from October 5 and closes on Friday, October 16 at 5pm. Follow all the news and analysis on Sky Sports News and across Sky Sports' digital platforms, including with our dedicated Transfer Centre blog.