The 22-year-old had already signed a new five-year contract with the Reds in May and will continue his development in the Premier League at Carrow Road.
Wisdom tweeted: “Happy to be here at Norwich. Hopefully can have a good season looking forwards to getting started.”
The newly-promoted Canaries are expected to pay a loan fee of £1.25m for the England U-21 defender, who can operate as a full-back or in the centre of defence.
Wisdom spent last season on loan at West Brom where he played in 24 Premier League games. He impressed in the Sky Bet Championship for Derby in a temporary spell in the previous campaign.
Norwich boss Alex Neil said: “I’m delighted as Andre fits our profile in terms of getting hungry players in who want to make their way in the game.
“He has Premier League experience & will add competition. The squad is certainly getting stronger, which I’m happy about.”