The move would see the Spain international link up with former Anfield boss Rafa Benitez and his old Reds goalkeeper coach Xavi Valero.
Reina is expected to head for Italy in the next 24 hours to undergo a medical and complete his switch to last season's Serie A runners-up.
Liverpool recently signed Belgian stopper Simon Mignolet, which could spell the end of Reina's eight seasons on Merseyside.
Meanwhile, Reds skipper Steven Gerrard makes his return to action for the team following a recent operation on his shoulder.
Gerrard will play against an Indonesian X1 in Jakarta on Saturday afternoon after missing Liverpool's last two matches of the season to have surgery.