The Spaniard spent last season on loan with Italian side Napoli, following the Reds’ signing of Simon Mignolet.
Reina had been widely expected to depart Anfield this summer, but talk has died down in recent weeks, with his wage demands said to be deterring prospective suitors.
But it now appears the 31-year-old is on his way to Bundesliga champions Bayern Munich, to act as an understudy to Manuel Neuer.
Tony Barrett of the Times is reporting the deal, with a fee expected to be in the region of £2m.
The news means Bayern will drop their interest in Southampton stopper Artur Boruc, who was being linked with a move to the Allianz Arena last week
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