Releasing a statement on their website early on Monday, Benfica confirmed the Uruguay striker will head to Anfield for a fee of £64million, with a further £21.4m in potential add-ons.
Nunez signed for Benfica in 2020 from Spanish second tier side Almeria and scored 45 goals in 85 games, 61 of those starts, for the Primeira Liga club in all competitions.
The club also notified that finalising the deal will now depend on the agreement of personal terms between Nunez, his representatives and Liverpool.
“It is further informed that the aforementioned agreement is dependent on the signing of the player’s employment contract with Liverpool FC,” a Benfica statement said.
The 22-year-old enjoyed a prolific 2021-22 season, finding the net 34 times in 41 games in all competitions.