Bhatia, the son-in-law of Indian steel billionaire Lakshmi Mittal, is heading a consortium interested in buying into the 20-time English champions.
Fenway Sports Group, Liverpool's US-based owners, confirmed the approach from Bhatia's group.
"An investment consortium led, managed, and represented by Amit Bhatia has expressed interest in making a strategic minority investment in Liverpool Football Club," an FSG spokesperson told AFP.
The Financial Times reported that Bhatia has hired advisers to work on the offer, which the newspaper said could value Liverpool at more than $6 billion (£4.48bn).
Just hours after Bhatia's interest in Liverpool emerged, the London-born 46-year-old stepped down from his role as a director and co-owner of Championship side QPR.
Bhatia, who spent 18 seasons with the west Londoners, will transfer his ownership of the club to majority owner Ruben Gnanalingam.
"I step back from my formal responsibilities with pride, gratitude and affection. I want to thank the players, managers, staff, the community trust, my fellow board members and, above all, the fans, who have made me and my family feel part of the QPR family for so many years," Bhatia said.
Bhatia's discussions with FSG - who bought Liverpool for £300 million in 2010 - are believed to be at an early stage, with no deal struck yet.
Any investment from Bhatia would be made to further position Liverpool for success, following FSG's move in 2023 to sell a minority stake in the club to global sports investment firm Dynasty.
Reports at the time valued that transaction between $100 million (£74m) and $200 million (£149.5m).