The unsettled Argentine, 26, informed manager Roy Hodgson of his desire to quit Anfield last month and was hopeful of finalising a move to Inter Milan before the start of the new Premier League campaign this weekend.
But Mascherano has been forced to reconsider his options after Massimo Moratti, the European champions' president, ruled out a move due to Liverpool's valuation of €30million (£24.8M) for the holding midfielder.
Barcelona have made no great secret of their admiration for Mascherano and are hoping to succeed where they failed last summer in luring him to the Nou Camp.
Speaking to a Catalan radio station Horacio Zandonadi, Mascherano's representative in Spain, revealed that his client would relish a move to the La Liga giants which would see him link up with international team mate Lionel Messi.
He said: "The player and all of us would be delighted if he could end up at Barcelona. We're talking about a figure that is about half the size of what Barcelona were being asked to pay for Cesc Fábregas.
"He has not renewed his contract [with Liverpool] and they promised him that this year they would help him leave, so we're talking about a situation that is much easier than it was last summer.
"Mascherano and Messi are friends, they get on very well because they are similar personalities. They are very professional, very committed and they love football and family."
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