The landmark structure will replace the existing radar tower at the mouth of the river near Crosby Beach, home to Anthony Gormley's 'Another Place' sculpture.
Five shortlisted entries were chosen from 92 submitted by architects around the world and local people are now being asked for their views.
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They will go on display at the Renew Rooms in Wood Street in Liverpool city centre and the Seacombe Ferry Terminal.
They can also be seen in Crosby Library until the end of the month.
The designs range from a V-shaped structure with a suspended viewing pod out over the River Mersey, to a wedge-shaped building extending out over the river that is inspired by a pier.
The other designs include a tower shaped like a table lamp, a weathered steel tower topped by a transparent viewing platform inspired by a lighthouse, and a structure with high piers over the river.
The £11.5m project is being led by the Mersey Basin Campaign.
(NS/JM)
