The 18-year-old has been widely expected to join the Anfield giants following strong interest from the English Premier League and Champions League runners-up.
Aberdeen are understood to be in line for a £4.5million upfront fee with an additional £3.5m of add-ons depending on appearances clauses.
On top of that, the Dons have reportedly negotiated a bumper 20 per cent sell-on clause.
Such a move will see Ramsay become the club’s most expensive every player, surpassing Scott McKenna’s transfer to Nottingham Forest two years ago.
The moves comes after a breakthrough season at Pittodrie for the teenager, who has also represented Scotland at under-21 level. Ramsay will now travel to Merseyside to conclude his medical, with a formal announcement expected over the weekend.
Ramsay’s performances attracted significant interest from Serie A side Bologna who had a bid rejected in January. Leeds United were also credited with a strong interest, but it will be their English top-flight rivals Liverpool he will represent next season, barring any unforeseen late hitches.