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Arne Slot's side are the reigning Premier League champions and will be hoping to defend their crown.
While some may argue that the Reds are in great shape having won the league with ease, Slot is keen to strengthen his squad and ensure they are in the best position to challenge once again.
They have already secured the signing of Jeremie Frimpong from Bayer Leverkusen in a £30 million deal, and his former teammate Florian Wirtz is close to making a move to Anfield in a deal worth £116m.
Elsewhere, a couple of players have already moved on, with Trent Alexander-Arnold joining Real Madrid and Caoimhin Kelleher signing for Brentford in a deal worth £18m.
Even though Liverpool have started work to reshape their squad, the job is far from over.
The Reds are looking to both sign and offload players before the end of the summer window.
Here, we have taken a look at how Slot's 25-man Premier League squad could look like come September based on a number transfer rumours coming to fruition.
Goalkeepers: Alisson, Giorgi Mamardashvili, Harvey Davies
With Kelleher departing, Mamardashvili is expected to step in as second choice to Alisson next season.
Kerkez, 21, and Hato, 19, would bring the average age of the Liverpool squad down but add some more quality and potential to the side.
Midfielders: Tyler Morton, Dominik Szoboszlai, Alexis Mac Allister, Harvey Elliott, Curtis Jones, Ryan Gravenberch, Florian Wirtz
There have been some rumours surrounding Morton's future at Liverpool, but he should be kept for the fact he is homegrown and would add squad depth, while Szoboszlai, Mac Allister, Elliott, Jones and Gravenberch would be the others to remain after they helped Liverpool win the Premier League.
However, Wataru Endo could depart this summer, while Wirtz is expected to join.
Forwards: Luis Diaz, Mohamed Salah, Hugo Ekitike, Cody Gakpo, Diogo Jota, Anthony Gordon
Now, here is where the fun is
Liverpool were the runaway top scorers in the Premier League last season with 86 in 38 Premier League matches, but there is still room for improvement in that forward line.
Looking at the players that would remain as part of the dream squad, Salah, Diaz, Jota and Gakpo are the four that Liverpool should keep, with Nunez making way.
That would give the Reds wiggle room to add two front players
Ekitike would be the first to be signed in a £85m move from Eintracht Frankfurt, with Gordon following in a £60m deal from Newcastle.
Chelsea dream 25-man squad: Alisson, Giorgi Mamardashvili, Harvey Davies*, Jeremie Frimpong, Conor Bradley*, Virgil van Dijk, Ibrahima Konate, Joe Gomez*, Milos Kerkez, Andy Robertson, Jorrel Hato, Jarell Quansah*, Tyler Moron*, Dominik Szoboszlai, Alexis Mac Allister, Harvey Elliott*, Curtis Jones*, Ryan Gravenberch, Florian Wirtz, Luis Diaz, Mohamed Salah, Hugo Ekitike, Cody Gakpo, Diogo Jota, Anthony Gordon*.
*Homegrown
The eight qualifying homegrown players on this list would be Davies, Bradley, Gomez, Quansah, Morton, Jones, Elliott and Gordon
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