According to the Spanish publication Marca, Liverpool have to plot £26m if they want to sign Barcelona midfielder this summer.
The 24-year-old Spaniard has endured a stop-start season due to a series of injury problems. Rafinha only made 18 appearances in La Liga this term before missing the last nine games of the season with a knee issue.
Liverpool are understood to be one of three clubs to have already enquired over the availability of Barcelona ace alongside Serie A duo AS Roma and Juventus.
Barcelona reportedly want to cash in on the player as they look to finance new signings this summer and Marce suggests that Camp Nou side value their midfielder at around £26m (€30m).
The former Barcelona boss Luis Enrique was officially replaced by Ernesto Valverde this week and Rafinha will reportedly meet with the former Athletic Bilbao manager in the coming days to discuss his future.
Liverpool meanwhile, are expected to considerably bolster their squad ahead of a Champions League campaign next term.