Both Liverpool and Newcastle are credited with an interest in Hooper, who has scored eight goals in 14 appearances this season.
The 24-year-old has snubbed a new deal at his current club with just 18 months to go on his contract, because he wants to get the hell out of the Scottish League.
He moved to the Scottish club for £2m from Scunthorpe United but has had enough of the "One Club League" . and allegedly Brendan Rodgers and Alan Pardew are ready to "rescue" him.
The Reds are desperately short of strikers following Andy Carroll's loan switch to West Ham and Italian forward Fabio Borini's recent foot injury.
Rodgers has the option to bring back Carroll in January when he can exercise his recall clause, but the Geordie knows he has no future in Rodgers' team long term.
Newcastle tried to sign Carroll in the summer, and with Demba Ba reportedly considering a move himself, Pardew may move swiftly for Celtic frontman Hooper.