The 17-year-old made his first team debut for Southampton on 2 March 2010, where he immediately impressed. Interim manager Kenny Dalglish is interested in a partner for Torres and believes Chamberlain is ready to play Premier League football.
He is Southampton's second youngest appearance-maker behind Theo Walcott, whose club Arsenal are reportedly also keen on signing the youngster.
Liverpool's scouts view Chamberlain as one of Britain's finest young talents and are keen on snapping him up quickly.
The next month will show whether or not Chamberlain makes a jump to Premier League or not.