Lowe, 22, is currently on loan at Scottish club Aberdeen and is due to return to his parent club later this month.
The report also states that Steven Gerrard wants Lowe only on loan and in accordance with his former national compatriot Frank Lampard.
The 22-year-old is having an impressive loan spell with the Dons after being regular for the side.
The full-back has scored 2 goals and 2 assists in more than 30 appearances across all competitions.
A youth product of the Rams, Lowe had his loan spell at Shrewsberry Town, prior to the Scottish Premiership move.
The English left-back has also fared well in terms of discipline, having received only three yellow cards.
Lowe also represented his country at various age levels.
Why should the Gers move for Lowe?
The Light Blues’ position for Left-back is currently filled by Jonathan Flanagan in the absence of injured Borna Barisic.
Lowe would be a massive addition, keeping in mind the lack of full-back options at present. Furthermore, the England U-20 international can also play as a left midfielder.
The Light Blues picked up an important victory against Celtic in the Old Firm derby last week, which marked their sixth in the row.
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Gerrard is now set to wrap up his first season at Ibrox on a winning note as the Gers will play Kilmarnock in the final game of the Premiership.