The Argentine revealed his love for the Reds but states he is a professional and cannot afford to be tied down by his links to Anfield
The Argentinian enjoyed a three-and-a-half year spell at Anfield between 2007 and 2010 before moving to Camp Nou, and he has nothing but fond memories of his time at the Merseyside club.
However, that does not mean he would reject the chance to join another English side in the future.
"My feelings for Liverpool don't mean I'm tied to them," he told The Guardian.
"I have a lot of affection for them and always will have, but if in the future a Premier League team gave me a chance, you can't say: 'No, I'd only play for one team'.
"We're professionals, this is our living. Whatever happens, my feelings for Liverpool won't change."
Mascherano feels Liverpool were going through a difficult period at the time of his departure and he remains unhappy about his exit, but he feels the club are on the right track again under Jurgen Klopp.
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"Liverpool were one of the best teams I played for, but the club had problems. I never met the owners," he added.
"Liverpool's a club to enjoy, to be there, to live. It's not worth owning Liverpool 20,000 kilometres away; it belongs to the people and you don't get that if you're never there. It's a pity."
"I was sad that I had to go the way I did. What happened is what had to happen. They promised me that if there was a good offer they'd release me because the club was in a process of disintegration.
"But the club didn't always tell the truth; it's the player whose image gets damaged, the same happened to Fernando [Torres], but things were clear: I never lied.
"When Rafa [Benitez] went, they knew I'd leave. I felt the project was falling apart. Rafa had gone, there was no direction. And the offer was Barcelona.
"I always felt the club was trying to take a step forward but couldn't. Now with Klopp they're trying. He's a manager for Liverpool, very much of the people.
"Nowhere has anybody treated me so well."