The bid was believed to be in the region of £11million, which falls short of the Merseysider's £15million asking price.
The 'reds' are prepared to led Moreno go this summer but are not willing to budge from their valuation. According to the 'Daily Mail' however, Napoli are the only side to have shown an interest at this stage.
Moreno has fallen out of favour in recent years, with an out-of-position James Milner being preferred to him last season.
The 'Daily Mail' also reports that Moreno's former side Sevilla are interested in re-signing the 24-year-old, though they would not be willing to meet Liverpool's demands.
It has been a busy day for Liverpool as they also look to be closing in on the signing of Mohamed Salah from Roma.