The La Liga giants tabled three bids for the Brazil intentional this summer but the Reds refused to sell.
Coutinho, 25, handed in a transfer request in hope of securing his dream move to Barca but a deal was not agreed.
And according to Spanish news outlet Don Balon, Barca will return for Coutinho in January.
They say the Spanish giants will offer £97m (€110m) for the playmaker, including add-ons.
Don Balon add that Barca talisman Lionel Messi has backed the move.
The Argentina international has demanded Barca strengthen in January and Coutinho is Messi’s chosen signing.
However, Don Balon say Coutinho may have a slight doubt about joining Barca.
They reckon the Liverpool star wants to see how Barca’s situation changes if Catalonia gains independence from Spain.
Club president Josep Maria Bartomeu said on Monday that Barca could even leave La Liga.
Bartomeu said: “This situation does not exist so far.
“But with regards to things that can happen in the future, it is something that the board of directors would discuss. It would be something to analyse calmly.
“If we discuss the subject intensely then obviously we will find the best solution. But if this [independence] happens, the board of directors will see.”
