The deal will be £69m guaranteed up front with a possible £10m in additional add-ons. He is expected to sign a six-year contract until 2031.
Once the deal is completed he is expected to join up with the squad for their pre-season tour of Asia.
Ekitike burst onto the scene at Ligue 1 club Stade de Reims before moving to French champions PSG, initially on loan and then permanently.
He moved to Frankfurt in February 2024, initially on loan again before signing permanently. He scored 19 goals in 47 Bundesliga games for the former Europa League champions.
The 23-year-old also becomes the second Frankfurt forward to make a big move to the Premier League after Manchester City signed Omar Marmoush in January.
He was left out of the Frankfurt squad for a friendly at the weekend and speaking afterwards, manager Dino Toppmoller admitted it was “a bitter loss” to say goodbye to Ekitike.
“This is a bitter loss. We lost our absolute top player in the winter with Omar Marmoush.
“The other player stepped in and developed sensationally. It’s quite possible that that’s history, too. So I think we need to temper expectations a bit overall.”
Liverpool will begin their season on August 10 at Wembley as they face Crystal Palace in the Community Shield.
The Reds will then open the defence of their Premier League title the following weekend when they host Kerkez’s former club Bournemouth at Anfield on Friday evening, the first game of the new season.
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