The Reds have already brought in one new centre-back, with Jeremy Jacquet arriving at Anfield, but following Ibrahima Konate's departure, another option may be required, and Colwill is under consideration.
That is despite the 23-year-old missing the vast majority of the 2025-26 campaign due to an ACL injury, which limited him to just three appearances in the Premier League.
However, the Englishman was a key component of the Blues' backline during the 2024-25 season, appearing 35 times in the Premier League, during which time he averaged 6.3 defensive contributions per 90, which was the third-highest number in the squad.
The Chelsea defender, who was dubbed "outstanding" by Liam Rosenior, also averaged 66.5 accurate passes per 90, showcasing his ability in possession of the ball. For reference, Virgil van Dijk averaged 65.4 last term, while Konate averaged 56.4.
With the five-cap England international strong defensively and able to pick out a pass, he could tick plenty of boxes for Iraola, who prefers it when his sides are able to progress the ball up the pitch as quickly as possible, according to BBC Radio Solent's Jordan Clark.
Clark said: "It's a high press - it's nicking the ball off the opponent at every opportunity. And at the other end, if you have to defend, it's about getting yourself back up the pitch as quickly as possible."
Liverpool plotting move for Levi Colwill
According to a report from TEAMtalk, Iraola has demanded a new defender ahead of the new season, and Colwill is one of Liverpool's dream targets.
The Reds are plotting a move for the £100,000-a-week Chelsea centre-back, and will make an approach if he becomes available. However, as things stand, Xabi Alonso's side have little interest in sanctioning a departure.
Aston Villa star Ezri Konsa and Tottenham Hotspur defender Micky van de Ven are named as potential alternative options, and bringing in a new centre-back could be important, as Jacquet and Giovanni Leoni are still recovering from injuries.
Which centre-back should Liverpool sign?
Levi Colwill
Liverpool's interest in Colwill is understandable, considering he is strong in possession, and he was a key player for Chelsea prior to an ACL injury. However, the former Brighton & Hove Albion man would be a risky addition, having been limited to just 225 minutes of game time in the Premier League last season.
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Ezri Konsa
Konsa, on the other hand, was a dependable option for Villa last season, making 48 appearances in all competitions. After that, the 28-year-old went on to be a key player for England at the World Cup, featuring in all eight games. As such, should Iraola want to bring in a more experienced defender, the 28-cap England star could be a solid option.
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Micky van de Ven
Van de Ven also has Premier League experience, having made 75 appearances in the competition for Tottenham. Moreover, Van Dijk knows him well, as they are teammates at international level. That said, Spurs have finished 17th for two seasons on the spin, and they conceded 57 goals last season, which raises questions about whether the Dutchman would be a good acquisition for Liverpool.
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The Reds also remain keen on strengthening at the opposite end of the pitch, and they are ready to bid for AS Monaco star Maghnes Akliouche.
Paris Saint-Germain forward Bradley Barcola is still of interest too, but the European champions could hold out for £145m, which may be prohibitive.