The Morocco international is a free agent at the end of the season when his contract with Bordeaux expires.
The Sun say Liverpool have offered Chamakh a four-year contract worth £3million a season.
Chamakh has admitted he would prefer to join Arsenal.
He said: “My choice is to join a Premier League club. If I had a choice, I would go to Arsenal.
“Bordeaux gave me a lot. I will soon clarify things so the club can prepare my successor.”