The media outlet reported that the youngster will sign a new five-year deal with the Reds and will immediately join Steven Gerrard's team for pre-season tour.
The Nigeria-eligible winger spent last season with Ligue 1 side Stade de Reims but his impact wasn't felt as he struggled for form and game-time throughout the campaign.
Ojo has been on Liverpool's books since 2011 but has been loaned out to Wigan Athletic, Wolves and Fulham in England.
He will hope that his proposed reunion with the former Liverpool star will bring the best out of him and will catapult him to the height he ought to have been by now.
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