Markovic, 20, is set to become Brendan Rodgers' fourth summer signing following the additions of Rickie Lambert, Adam Lallana and Emre Can.
The Serbia international has been earning rave reviews for Benfica and also attracted interest from Chelsea.
But Liverpool appear to have won the race to clinch his signature with both Portuguese newspapers and local radio stations are claiming that the talented forward will have a medical on Wednesday and is set to complete his £25million transfer to Anfield.
