The Spanish giants pipped their arch-rivals Real Madrid (£3.45bn) into the top spot after five successive second-place finishes.
According to Forbes, the two clubs recorded 2020 revenues of £576m and debt values at six percent.
German giants, Bayern Munich (£3.07bn) move up one place to third from last year's rankings while Manchester United moving to fourth with £3.06bn, according to Forbes' latest figures.
Liverpool are now worth £2.98bn, rising above Manchester City (£2.91bn) who announced £126m losses last week.
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