The Portuguese giants have officially announced the two clubs have agreed a €75million (around £64m) transfer fee for the Uruguayan forward as per transfer journalist Fabrizio Romano.
"In the early morning hours of this Monday (0:44 am), Sport Lisboa e Benfica – Futebol, SAD informed the Securities Market Commission (CMVM) that it had reached an agreement with Liverpool FC for the sale of all rights to the player Darwin Nunez, for the amount of €75m,"
"To the CMVM, Benfica's SAD also informed that the agreement provides for the payment of a variable remuneration, so the global amount of the sale could reach the amount of €100m. It is further informed that the aforementioned agreement is dependent on the signing of the player's sports employment contract with Liverpool FC." read an official Benfica statement.
The figures however, could rise to as much as €100m (around £85.3m) with add-ons.
The fee was reportedly agreed in the early hours of Monday morning and Liverpool are yet to announce the news.
The transfer for the 22-year-old striker is now expected to be completed and announced on Monday.
Nunez has just completed a prolific season at Benfica, scoring 34 goals and providing four assists in 41 appearances in all competitions.
Nunez's arrival at Anfield is expected to pave the way for Sadio Mane to join Bayern Munich in the coming weeks.
The Senegal international has just one year left on his contract and has confirmed his desire to exit the club after seven seasons, with the Bundesliga champions leading the race for his signature.