The Reds knocked back all three bids launched by Barcelona in the summer, despite Coutinho handing in a transfer request and making his stance very clear to the Anfield outfit.
Ernesto Valverde's side were not deterred by Liverpool's firm position and have decided to return for the Brazilian once the transfer window opens in January.
Barcelona CEO Oscar Grau revealed that the club are eyeing a big signing for the second half of the season, with Coutinho in the forefront of their minds: "We are ready to buy Coutinho in the winter market, or any player the technical staff request," Grau said earlier this season.
However, if the 25-year-old playmaker fails, Barcelona have earmarked fellow countryman Willian, as revealed by 'Goal'. The Brazilian pair share the same agent, Giuliano Bertolucci, who also played a key role in Paulinho's move to the Camp Nou.
Antonio Conte has only handed Willian seven starts in all competitions this season, with the Chelsea winger scoring four times.