According to Spanish newspaper Marca, the Catalan giants - who missed out on the La Liga title in cruel fashion to Atletico Madrid on the final day of the domestic season on Saturday - are set to put the aforementioned pair up for sale.
And if that same source is to be believed, they certainly aren't the only ones facing the Nou Camp exit door with the likes of Alex Song, Pedro, Alexis Sanchez, Dani Alves and Cesc Fabregas all facing up to a similar fate.
While Barcelona supporters may be disappointed to hear of such an exodus, Liverpool boss Brendan Rodgers will presumably have been very encouraged indeed heading into what is sure to be a busy summer of transfer activity at Anfield.
Reports earlier this month suggested that Rodgers had been given the appropriate permission to move for £8 million-rated Tello, while other speculation has linked Mascherano - who could be available for around £9 million - with a shock return to his former employers.
Both players would certainly aid Rodgers' attempt to boost the depth in his squad, as Liverpool will surely look to ensure that the momentum gained during an incredibly positive - not to mention surprising - 2013/14 campaign is not lost.
As a former Liverpool favourite and midfield regular, Mascherano has a wealth of experience that would come as a major help next year with the Reds' painful Champions League absence set to come to an end at long last.
While at 22 Tello certainly does not have anywhere near the same level of experience, he is nevertheless an exciting attacking talent who could complement the likes of Daniel Sturridge, Luis Suarez and Philippe Coutinho rather perfectly.