The Reds have been linked with a move for the Argentina international with reports in Italy suggesting they were ready to table a club record offer of around £80million.
However, the ECHO understands that Dybala is not on Jurgen Klopp's list of targets as he looks to bolster his squad ahead of the 2018/19 campaign.
Liverpool have been considering their options in the transfer market since a £53million deal for Lyon's Nabil Fekir collapsed early last month.
The Reds backed out at the 11th hour after a medical flagged up concerns over an old knee injury. It was a blow for Klopp who had viewed the France international as the ideal replacement for Philippe Coutinho, who was sold to Barcelona back in January.
Liverpool have yet to pursue an alternative to Fekir, leading to speculation that the transfer could be revived with terms renegotiated after the World Cup.
Liverpool have been considering their options in the transfer market since a £53million deal for Lyon's Nabil Fekir collapsed early last month.
The Reds backed out at the 11th hour after a medical flagged up concerns over an old knee injury. It was a blow for Klopp who had viewed the France international as the ideal replacement for Philippe Coutinho, who was sold to Barcelona back in January.
Liverpool have yet to pursue an alternative to Fekir, leading to speculation that the transfer could be revived with terms renegotiated after the World Cup.
However, as it stands, there have been no further talks with Lyon and their club president Jean-Michel Aulas now expects him to stay put.
“I think that Nabil will be at OL next season,” Aulas said. “I have almost a father-son relationship with my players. I gave him the chance to go to Liverpool because it was his dream club. He is our captain and it is the coach’s wish to keep him.”
Klopp has so far added two new signings to his squad in Naby Keita and Fabinho.
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