The 20-year-old has just 12 months left to run on his current deal at Anfield and has made it clear that no extension will be signed unless he is offered a regular role in Brendan Rodgers’ side.
The Spain U21 international is held in high regard on Merseyside and Liverpool would be reluctant to let him slip through their grasp.
They were, however, prepared to send him on loan to Almeria last season after seeing him make a senior breakthrough in 2012/13.
Suso hopes he has done enough to convince Rodgers that he is deserving of a return to the Premier League stage, but claims Porto have held informal talks regarding a summer switch and has hinted that he would be open to making a move.
He said in the Liverpool Echo: “My priority is to stay here, but Porto is an excellent option if I leave Liverpool. I know there’s negotiations.
“Porto are the best club in Portugal and they have faith in their youngsters. They also have a coach I like working with.
“I will only renew with Liverpool if I’m guaranteed I’ll play regularly.
“The option is clear: if I don’t renew, let me leave. I think Liverpool thinks the same.
“They won’t let me leave on a free in a year if I don’t renew. Let’s see what happens.”