Interest was made over the centre-back from a number of clubs last month, but nothing came of it.
We are told that it would take some €50m (£42m) to start negotiations with Leverkusen, while coach Xabi Alonso would rather that the Ecuadorian moves on next season rather than this window, even if the youngster does try and force a move away now.
The likes of Tottenham and Newcastle have been linked to the player before, and other reports have suggested that the Reds have an interest in acquiring the 21-year-old.
Hincapie – who is currently injured with a broken metatarsal and not expected back until after the September international break – is one of the brightest young prospects in the Bundesliga today.
He shares the same agent as Moises Caicedo, who moved to Chelsea for a British-record £115m last week.
Hincapie can play as a centre-back, his favoured position, but he is also a competent left-back – a versatility that has piqued the interest of many clubs in Europe. But, indeed, the Premier League is where it is thought that he will head to next year.
Liverpool are still in the hunt for another one or possibly two signings, as they look to regain a spot in the Champions League this campaign.
Jurgen Klopp's side face a tricky test on Sunday by the way of Newcastle, with the sides set to face off in the late kick-off at St James’ Park.
Liverpool drew their opening Premier League fixture against Chelsea 1-1, before they earned three points against Bournemouth, in a 3-1 win over the Cherries at Anfield.