Liverpool have agreed an £8.5million fee with Inter Milan for the midfielder who has also attracted interest from Southampton.
Inter Milan president Massimo Moratti believes a move to the Barclays Premier League would represent a 'great opportunity' for Coutinho.
Coutinho has been in Liverpool for the last few days while he completed a medical and other formalities, and he goes with Moratti's blessing.
Moratti told inter.it: 'There are opportunities there to be seized. Sometimes certain
players need the chance to play more.
'And that's why I think this could be a great opportunity for a Coutinho, and a deal that could go very well for us too.'
Liverpool manager Brendan Rodgers had said on Friday he was still looking to add to his squad with one or two new players before Thursday's transfer deadline.
Rodgers was unwilling to comment on speculation linking the club with Coutinho but it is now understand the club have succeeded with an approach after previous advances were rejected.
Liverpool will also need to apply for a work permit for the player.
Coutinho will become the club's second signing of this transfer window following the £12m capture of Daniel Sturridge from Chelsea.