The Reds have been tracking the midfielder for the past 12 months and it was thought boss Brendan Rodgers would make a summer offer for the 21-year-old, valued in the £10million bracket.
However, the Denmark international has now opened the door to a potential summer move to Champions League finalists Dortmund and says he is very attracted to a switch to the Bundesliga rather than anywhere else.
"Dortmund are a club where I would like to play," he told De Telegraaf. "I think I would be a good fit there with the football there.
"Dortmund play nice, attacking football. The Bundesliga has never really been my preferred choice and a few years ago I would not even have considered it, but now I do.
"The competition is getting stronger and it is no coincidence the two Champions League finalists are German clubs."
Eriksen has confirmed there has already been initial discussions over a potential move to Germany although an agreement is not thought to have been reached just yet, giving Liverpool hope they can still lure the youngster to Anfield this summer.
"I know there has been contact between the two clubs, and both Ajax and Dortmund have already talked to my agent," he added.
"I will consider all the clubs and quietly make a decision. I want clarity when preparing for the new season, that's the best thing - for everyone."