The Reds had previously considered a move for Micky van de Ven but Spurs ultimately won the race for his signature, agreeing a deal worth £43m for him.
Liverpool sporting director Jorg Schmadtke is thought to be particularly keen on Hincapie and his links to the Bundesliga could give them an advantage in negotiations.
Schmadtke spearheaded Liverpool’s most recent deal for Wataru Endo, who they are on the verge of signing from Stuttgart for a fee of approximately £15.4m.
The Merseyside club are now once again turning to the Bundesliga for a new defender and Hincapie is one of their top targets.
Hincapie is valued at around £30m, but given the interest of the two Premier League giants, his price tag could ultimately end up being higher than that.
Liverpool, West Ham rival Tottenham for Hincapie
According to German outlet Fussball Transfers, Hincapie has ‘admirers’ at Liverpool as they look to bring in a left-footed centre-back.
Jurgen Klopp isn’t thought to be convinced by the likes of Joe Gomez and Joel Matip and has wanted to bolster his defence since the end of last season.
The report claims the Reds had Van de Ven and Castello Lukeba on their shortlist, but they ended up joining Tottenham and RB Leipzig, respectively.
West Ham United are also said to be interested in Hincapie, as well as Tottenham, so we could see a bidding war take place for the defender.
The youngster signed for Bayer Leverkusen in 2021. He has since made 76 appearances across all competitions, scoring three goals.
Hincapie was particularly impressive last season when he helped his team to nine clean sheets in 30 Bundesliga appearances for Leverkusen.
His form has caught the attention of several European clubs but it’s thought that a move to the Premier League would be his preference.