The 26-year-old centre-half has made just two appearances in all competitions for Dortmund this season under Klopp’s successor, Thomas Tuchel.
Serbia international Subotic was signed by BVB from the Liverpool manager’s former club Mainz in 2008 and scored 17 times in 244 games during Klopp’s seven-year spell in charge.
The Reds have been linked with Germany international Marcos Reus and Dortmund centre-half Mats Hummels after Klopp took over the reins at Anfield from Brendan Rodgers.
But Honigstein, BT Sport’s Bundesliga football expert, doesn’t expect Klopp to target Hummels or Reus, but believes a bid for Subotic could be a possibility.
“His former CEO and chairman at Dortmund said Klopp wouldn’t target any of his players,” Honigstein told The Sport Review.
“There is probably a deal to be made with Subotic, who has been out-of-favour.
“He is one of the few players who was personally picked by Klopp for Dortmund when he was at Mainz. Most of the players were bought by the club rather than him.”
Subotic was part of Dortmund’s squad that won back-to-back Bundesliga titles in 2011 and 2012 before he made 11 appearances in their run to the Champions League final at Wembley in 2012-13.
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