After resigning defender Dani Alves, New Barcelona manager Xavi Hernandez is also reportedly keen on bringing Thiago Alcantara back to the Camp Nou.
Xavi was appointed as Ronald Koeman’s successor last weekend amid Barcelona’s struggles so far this season.
The Blaugrana sit ninth in the La Liga table and are already nine points adrift of top spot.
Six points separate the Catalan giants from both the top four and the bottom three, with Barcelona having won only four of their first 12 matches this term.
Xavi has pledged to restore the club’s identity and has already moved to re-sign Dani Alves on a free transfer.
The Brazilian right-back played alongside Xavi at the Camp Nou for seven years, winning six La Liga titles and three Champions Leagues during his first spell at the club.
Such silverware looks to be out of reach for now, but Xavi is plotting a cultural reset after concluding that Barcelona have moved too far away from their roots.
And the former Al Sadd boss wants to bring another former Barcelona player back to the club as part of his rebuild.
According to Sport, Thiago has emerged as a key target for Xavi ahead of the January transfer window.
The Spain international graduated from Barcelona’s famed La Masia academy and spent three seasons as a regular first-teamer.
He departed in 2013 to join Pep Guardiola at Bayern Munich, before moving to Liverpool last year.
Thiago has struggled with injury so far this season and has started only two matches in the Premier League.
He still has another two and a half years remaining on his contract at Anfield, but Barcelona hope Liverpool will listen to offers in January.
The report states that Thiago would welcome the opportunity to return to Catalonia, although the shortage of funds at the Camp Nou complicates matters.