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Since arriving from Stoke in 2018, Shaqiri scored eight goals for Liverpool in 63 matches
Liverpool has agreed to sell Switzerland's playmaker Xherdan Shahiri to Lyon at 9.5 million.
The 29-year old, who moved to the Reds from Stoke for 13m in 2018, only started five Premier League games last season under Jurgen Klopp.
Shaqiri is not participating in any of the club's league matches this season.
The Anfield attacker, who was formerly a Bayern Munich and Inter Milan player, won the Premier League as well as the Champions League.
Lyon stated that an external-link player arrived in the city Sunday and would then undergo a medical check on Monday. Then, Lyon added, "the finalization of the last administrative formalities will also take place."
Shaqiri appears set to be the second Liverpool player to move to a Ligue 1 club, Georginio Woijnaldum joining Paris St-Germain this summer after his Reds contract expired.
The international of Switzerland's 96-cap size, scored eight goals in 63 Liverpool games. Six of those were during his first season on Merseyside.
