The Reds confirmed on Wednesday that they had finally agreed an undisclosed fee, believed to be in the region of £7million, with the Championship club for the midfielder.
Scotland international Adam has been a long-term target for the Merseyside giants who tried and failed to secure his services during the January transfer window.
Blackpool's relegation from the Premier League on the final day of the season made his anticipated departure from Bloomfield Road more likely and the 25-year-old was always keen to remain in the top flight.
Adam now only needs to agree personal terms with Kenny Dalglish's men to seal his switch to the five-time European champions.
The midfielder will become Liverpool's second signing of the summer following the £20million arrival of Jordan Henderson from Sunderland.
There have been rumblings of discontent from some supporters after seeing the club miss out on Connor Wickham to Sunderland and Phil Jones to Manchester United.
But Dalglish clearly has further targets in mind and the Reds saw their £15million approach for Aston Villa winger Stewart Downing knocked back on Tuesday evening.