London's Daily Mail reports Liverpool have agreed a £2 million ($A3.49 million) deal with Middlesbrough to bring the 28-year-old Australian to Anfield.
New manager Roy Hodgson had been keen to bolster his goalkeeping stocks behind No.1 keeper Pepe Reina.
Liverpool had reportedly had an initial £1.5 million ($A2.62 million) bid for Jones rejected.
Jones sat out Boro's Carling Cup victory over Chesterfield on Tuesday as the clubs continued to negotiate his release.
The move would cap a turbulent period for Jones, who left Australia's World Cup squad just before the start of the tournament after his four-year-old son was diagnosed with leukaemia.
Jones has spent over a decade in England after joining Middlesbrough's youth setup in 1999 from Western Australia side Bayswater City.
He has made 58 appearances for Boro and has spent time on loan with clubs including Sheffield Wednesday and Blackpool.
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