The Saudi Pro League side, who are managed by Liverpool icon Steven Gerrard, already signed Jordan Henderson last summer, although the midfielder is looking for a return to Europe in the January transfer window.
Georginio Wijnaldum is another former Red at Al Ettifaq, while the likes of Sadio Mane and Fabinho are currently playing for Al Nassr and Al Ittihad respectively - the latter also leaving Anfield last summer.
However, Gerrard is already under enormous pressure in Asia, his Al Ettifaq side currently on a dismal run of form that has seen them drop to eighth in the Pro League table.
Gerrard has called on financial investment this January to help make his team more competitive, but Al Ettifaq's current financial position makes that impossible.
Therefore, Al Ettifaq have begun planning for next season already, a process that has involved the club assessing potential transfer targets.
According to 90min, two of those targets are Liverpool duo Thiago and Matip, both of whom are out of contract next summer.
With neither player having signed a new deal with the Reds, they are free to discuss terms with Al Ettifaq ahead of potential summer moves.
Both players were identified by Al Ettifaq last summer, but the Saudi side ultimately chose to pursue Henderson instead - a move that has been nothing short of disastrous.
While a Matip exit was never likely last summer, Thiago was frequently linked with a move away from Liverpool, with a switch to Saudi Arabia having been touted.
However, the Spaniard decided to stay on Merseyside and fight for his place amid Liverpool's midfield rebuild, although he is yet to play for the Reds this season due to injury.
Thiago's injury woes mean that Liverpool are unlikely to extend his deal beyond this summer, but Matip, despite suffering a season-ending injury last December, could still get a new contract.