The 24-year-old has been with Liverpool ever since he was a youngster after joining from Bradford.
Reports emerged last month suggesting Jurgen Klopp had agreed a deal to sell the out of favour defender for a fee of around £4million.
Wisdom, who broke into the team under former manager Brendan Rodgers, has failed to kick on at Anfield and has since struggled to hold down a regular starting spot.
As such, Klopp has been keen to sell him on a permanent basis.
And now, according to the Daily Mail, a transfer to Derby appears to be imminent.
It is said a £2m fee has been agreed which could rise up to £4.5m.
The Championship outfit supposedly saw a £1m bid rejected.
But now Derby are prepared to stump up £2m upfront, with more to come which is performance related.
Wisdom previously played for Derby in the 2013/14 campaign, making 34 appearances, but his side lost in the play-off final to QPR.