It is understood the deal will be formally announced today and Bournemouth will immediately fly Ibe out to Chicago to join up with their pre-season training camp in Illinois, USA.
Reports revealed last week that the Reds had accepted a bid from the Cherries after Eddie Howe had made the England U-21 winger a priority target.
Ibe only signed a new five-year deal at Anfield last May but having struggled to secure a regular starting berth under Jurgen Klopp, he looks to be on his way to the south coast.
The 20-year-old – who has played four times for England U-21s – featured just 12 times in the top-flight for Liverpool last season and has been loaned out in the past to Birmingham and Derby.
Howe has already been busy in the transfer market during the close-season, signing defender Nathan Ake on a season-long loan from Chelsea, midfielder Emerson Hyndman on a free transfer from Fulham and striker Lys Mousset from Le Havre in a deal worth £5.4m.
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