The 25-year-old Israeli international has started the 2012/13 campaign in fine form, netting six goals in eight La Liga matches, placing him just behind the likes of Lionel Messi, Cristiano Ronaldo, and Radamel Falcao in the Spanish goalscoring charts.
Reds boss Brendan Rodgers is believed to be on the lookout for attacking reinforcements when the transfer window reopens in the New Year, with Luis Suarez the only fit first-team striker at Anfield, following the recent injury to Fabio Borini, who broke his foot on duty with the Italy U21s.
Hemed will be available for around £5million - a modest price for a player that scored ten goals in 35 appearances during his first season with Mallorca, after joining from Maccabi Haifa in June 2011.
Given that Rodgers hasn't been afforded the same funds by Liverpool owners Fenway Sports Group as his predecessor Kenny Dalglish - who splashed a club-record £35million on Andy Carroll, before being sent on loan to West Ham United in August - the Northern Irishman will look for cost-effective additions to strengthen his fledgling squad.
With an emphasis placed on bringing through a number of talented youngsters from the club's Melwood academy, the former Swansea boss must now find the balance between youth and experience, to improve Liverpool's fortunes this season.