Federico Chiesa was due to have a medical on Merseyside after EPL side Liverpool and Juventus agreed a deal on Wednesday which could eventually be worth £12.5m (A$24.5m).
The Reds have agreed to pay the Serie A club an initial £10m for the 26-year-old Italy forward, who has agreed a four-year contract.
Chiesa had been linked with Spanish giants Barcelona and a move to Saudi Arabia.