The left-back, who featured against Wolves in the Europa League last week, is set to be signed as much-needed cover for Andy Robertson.
Liverpool moved for the Greece international having walked away from their pursuit of Norwich’s Jamal Lewis after the Canaries set their asking price at double the initial £10million offer the Reds made to the relegated Premier League club.
It is understood Liverpool’s sporting director Michael Edwards met with Olympiacos general director Lina Souloukou at Molineux on Thursday to finalise a deal for the 24-year-old.
Tsimikas’ medical is set to take place over the next couple of days and while personal terms have yet to be agreed, the club are confident that will not be a sticking point ahead of him signing what is expected to be a five-year contract.
He will be Liverpool’s first signing of the summer, having seen centre-back Dejan Lovren leave in a £10.9million deal to Zenit St Petersburg and midfielder Adam Lallana join Brighton following the expiration of his contract.
Liverpool manager Jurgen Klopp does not anticipate having a busy or big-spending transfer window but is looking to strengthen central defensive options and potentially his forward line.
Former Portsmouth. Middlesbrough and Bolton midfielder Gary O’Neil has been appointed as assistant coach of Liverpool’s U23s, joining the backroom team of Barry Lewtas who has stepped up from the under-18s this summer.