The Brazil midfielder will formally seal a switch to the Reds on July 1 after successfully completing a medical and finalising terms on a long-term contract at Melwood.
Fabinho told Liverpoolfc.com: “I am really excited about this move.
“This is something that I always wanted – this is a giant of a team. The infrastructures of the club look exceptional.
“A football club of this size coming after my services, I didn’t have to think that much about coming over.
“I will try to create my own history at this football club. Hopefully, on a personal level, I’m able to win titles with this club.
“I will try to grow and learn and improve myself, and to be part of the club’s history.”
Fabinho, who has four caps for his country, becomes the club’s first signing of the summer transfer window.
The 24-year-old will arrive from Monaco, where he made 225 appearances and scored 29 goals in five seasons with the French club.