The Croatian international had been heavily linked with a £6m move to Championship side West Ham United.
Hammers boss Sam Allardyce had even revealed on Saturday that contact had been made between the two clubs over a potential move.
However, talks are reported to have broken down over the player's wage demands.
"We know about the interest of West Ham and QPR, but Nikica has five or six clubs that are interested, including that of the great Liverpool," Philip Jelavic is quoted as saying by The Sun.
"As for West Ham and QPR, Nikica is more ambitious than that.
"It's most likely that he'll sign for Liverpool, but there are a few days until the end of the window, so we'll see."
Jelavic has scored 14 goals in 22 games for the SPL champions this season.