The 18-year-old midfielder is rated as one of the brightest young talents in all of South America, having turned in a series of scintillating performances for Racing Club.
With four goals in seven domestic appearances this season, Vietto has caught the attention of a host of top European clubs, with Juventus having already sounded out his agent Jorge Cyterszpiler about a move to Italy.
Speaking to TMV, his representative said: "I confirm, Juve are watching him. He's eighteen and has caught the attention of big clubs, including Juventus. He was the second top scorer in the league."
However, reports across Europe claim that Real Madrid and PSG are also ready to rival Juve and Liverpool for Vietto's signature.
Reds boss Brendan Rodgers is keen to strengthen in attack in January, particularly after the recent injury to summer signing Fabio Borini, which has left the Anfield club short on options.
Spanish newspaper AS suggests Jose Mourinho is willing to table a €6.5million offer to bring Vietto to the Santiago Bernabeu, but Racing are believed to be holding out for double that amount before they cash in on the talented teenager.