The Reds are currently 6th in the Premier League table just two points behind 4th placed Manchester United.
Coutinho has scored one goal in February as Liverpool have taken seven points out of a possible nine.
He has played in all three games, helping his team secure a draw against Merseyside neighbours Everton as well as wins over Tottenham and Southampton.
Coutinho opened the scoring against the Saints with a thunderous strike from outside the area as Liverpool ran out 2-0 winners.
Fans can vote for their favourite player to win by going to the following link http://fanawards.90min.com/
The PFA Fans’ Player of the Month award which is powered by 90min is designed to give a strong voice to the supporters who are the lifeblood of the game. The awards are endorsed by the players and supported by the clubs.
Each month, one lucky fan will meet and present the award to the player on the side of the pitch before the game.
Voting closes at midnight on Saturday 28th February with the winner to be announced on Monday 2nd March.