The Netherlands international was heavily linked with a move to the Spanish side after Ronald Koeman took over the reins of the La Liga giants in the summer.
Koeman was thought to be keen to bring his compatriot to FC Barcelona to reinforce their midfield following an embarrassing 7-2 loss to Bayern Munich in the Champions League semi-finals.
Wijnaldum has 10 months left on his current Liverpool FC contract to raise questions about the Netherlands international’s long-term future at the defending Premier League champions.
The Dutch midfielder could still sign a contract extension to extend his stay at Liverpool FC or leave for nothing at the end of the 2020-21 Premier League season.