We are asking if the two could be a perfect match? Feel free to agree or disagree(!)
The winger had one of his more productive seasons last year, almost unplayable at times, but frustratingly inconsistent and wasteful at others.
His standout performances came against Chelsea, and Tottenham, in 5-3 and 5-2 wins, while he showed he could be equally as devastating against the strugglers, excellent towards the end of the season against Wolves at Molineux.
He also showed his talent at Euro 2012, inspiring an England comeback win against Sweden with a goal and assist. But also at the tournament he showed he still has elements of his game to work on, failing to make an impression - along with much of the side, when he came on against Ukraine and Italy.
One of his weakest performances of the season came away at AC Milan at the San Siro, when he was harshly criticised for his poor display, and the speculation began that Arsenal may be willing to show him the door.
An area where the Reds are weak is on the wings. We all know about Stewart Downing's limp displays last season, but he remains the club's only out and out winger.
Walcott would add pace, and direct running to the side, attributes which the current Liverpool side has been accused of lacking.
In Brendan Rodgers, Liverpool have a manager whose coaching could help take Walcott's game to the next level, and improve his passing and ball retention - areas of the game in which he has been criticised.
Bringing him to Anfield would be a statement of ambition for Liverpool, that they can attract the top English talents. He surely would be affordable too, for no less than the amount the Reds were linked with signing Daniel Sturridge for.
If he is good enough for Chelsea to be interested in, then he is good enough for Liverpool too.
Walcott may not be everybody's cup of tea, but at 23, his best year's are still to come, and may still develop into a striker. Very few could argue that he would improve Liverpool's attacking options.
What do you think, should Liverpool try to sign Walcott?
image: © Ronnie Macdonald