The 19-year-old is currently plying his trade at German giants Dortmund and is regarded as one of the most promising young midfielders in world football.
Liverpool have been linked with interest in Bellingham, while many believe a host of European heavyweights will be lining up for his services next summer.
Reds legend Carragher believes that an auction could be set off for the Dortmund star’s signature following this season and he backed Liverpool, Manchester United and Manchester City to be in a race with other top clubs to snap him up.
Carragher stressed that Bellingham has a lot of potential and could reach the levels of Citizens star Kevin De Bruyne, who in his eyes is the best player currently in the Premier League.
The former Liverpool man admits he is hoping when push comes to shove that the Reds win the auction.
“It’s not just Liverpool, I’m sure Man City, Man United are looking at him, all the other top clubs, when you’re buying him you’re thinking we could have a player for the next 10 or 12 years, I think that’s the thinking”, Carragher told Football Daily.
“His ability is really good and it’s almost the potential of what he could become, could he become like Kevin De Bruyne is now basically – which is for me – the best player in the Premier League, you look at him in that midfield position and you just think wow.
“Maybe Man City are thinking he could replace De Bruyne or Liverpool could bring him in and he can add something or revolutionise Man United’s midfield.
“I think he’s the one that stands out for everybody, I think there will be an auction next summer and I hope Liverpool win it, fingers crossed.”
Bellingham has ruled out the possibility of leaving Dortmund this summer but he could be on the move a year from now.