Roy Hodgson is their new Liverpool manager after agreeing a compensation deal with Fulham.
Hodgson, 62, has signed a three-year contract at Anfield and will be officially unveiled to the media at a press conference on Thursday, having overseen the first day of pre-season training at Melwood.
The former Inter Milan and Switzerland boss had been heavily linked with the post since Rafael Benitez left the club for Inter last month and Liverpool finally got their man after agreeing a deal with the Cottagers for Hodgson to be released.
Hodgson impressed at Fulham last season - guiding the Cottagers to the Europa League final - and was voted Manager of the Year by the League Managers' Association for his efforts.
"This is the biggest job in club football and I'm honoured to be taking on the role of manager of Britain's most successful football club," Hodgson told Liverpool's official website.
"I look forward to meeting the players and the supporters and getting down to work at Melwood."
Hodgson is likely to be joined at Anfield by his trusted assistant Mike Kelly, although Sammy Lee - brought in by Benitez because of his coaching credentials and links to the club's successful past - is expected to be given a role somewhere in the new set-up.
In a bid to stave off any future interest from England, it is reported that there has been no get-out clause included in Hodgson's contract should the national team job become available.
Liverpool captain Steven Gerrard has praised the appointment of Hodgson and believes that the former Fulham boss is "the right man for the job".
"The club have made a good appointment in Roy Hodgson,'' Gerrard said. "Rafa left a few weeks ago and I know the club were determined to take their time and get the right man for the job.
"Roy is hugely experienced and I believe he is the right man for Liverpool. "I think it's been worth the wait and I'm sure he's just keen now to get on with it and start to quickly put in place his plans for the new season.''
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