Pepe enjoyed a stunning season in Ligue 1 as he plundered 22 goals – a tally bettered only by Paris Saint-Germain star Kylian Mbappe.
As a result, the Ivorian attacker has been attracting interest from some of the biggest clubs in Europe and Liverpool were thought to be keen to sign him.
However, The Mail claim they will not be pursuing a deal for the 24-year-old.
“Also worth categorically saying now that Liverpool have absolutely no interest in Nicolas Pepe,” reporter Dominic King said on Twitter.
“For all the stories that are coming from the continent, it is not a deal that will be happening.”
Liverpool boss Jurgen Klopp is not expected to spend like he did last summer when they splashed a combined £176million on Alisson, Xherdan Shaqiri and Fabinho.
Despite that, he is said to be in the market for a new attacker to provide some competition for his formidable front-line of Sadio Mane, Mohamed Salah and Roberto Firmino.
Young centre-back Sepp van den Berg, 17, is their only acquisition so far this summer who arrived in a £1.3m deal from PEC Zwolle at the end of last month.
Pepe would cost around £60m after his sensational 2018-19 campaign and has also been linked with the like of Manchester United and Bayern Munich.
Everton are also reported to have entered the race while Lille president Gerard Lopez specifically mentioned Liverpool when asked if his star player would be leaving
“I know there have been discussions with the player, not with us as a club,” he said.
“Liverpool have players in those positions and I read that maybe there were players who could leave, or not.
“I am not particularly focused on Liverpool. But it is true that there have been discussions with agents.”
Pepe is currently with Ivory Coast at the Africa Cup of Nations although they were eliminated on Thursday after a penalty shootout with Algeria.
“We had two offers before the Africa Cup of Nations,” Lopez added.
“We’ll see after that, my position was to see if we could not do something before it, we had two proposals before it, I had two clubs.”
