Premier League clubs have been put on alert as Pedro is reportedly ready to quit Barcelona, reports the Daily Mirror.
The Catalan forward is playing his seventh season in the Barcelona first team.
During that time he has won four La Liga titles and two Champions League titles and is now seemingly ready for a new challenge.
Manchester United, who are struggling with their out-of-sorts wingers Ashley Young, Nani and Antonio Valencia are believed to be monitoring the situation.
But Brendan Rodgers at Liverpool are also keen on the player and will continue to keep an eye on developments.
Liverpool are still heavily reliant on striker Luis Suarez and Daniel Sturridge to bring the goals and, with Sturridge out for two months, cracks are already starting to appear - they lost 3-1 to Hull City on Sunday.
But a move for the 26-year-old will bring a new dimension to both the teams.
Manchester United will be keen to take some pressure off of 18-year-old Adnan Januzaj's shoulders and the signing of Pedro can serve as excellent cover on the left wing.
However, Barcelona will not entertain the idea of selling Pedro well and will definitely not allow the World Cup winner to leave in January.
Pedro has started nine games in La Liga this year, scoring seven goals in the process.