"We need four or five top-drawer players to be able to compete," he said in an interview with the Spanish sports daily As.
"I want to fight next year to win the Premier League, to win the Champions League or the (Europa League) but new signings have to come for that to happen.
"What is really important is the club makes an effort and brings in top players who improve the quality of the squad," added the Spanish international.
Torres, who joined Liverpool from Atletico Madrid in 2007, said he had no immediate desire to go back to La Liga.
"I am not planning to return to the Spanish league in the short term," he said. "In the short term my future is in England."
Torres, who has a contract that could keep him at Anfield until 2014, said he was confident sixth-placed Liverpool would finish fourth in the Premier League and qualify for the Champions League.
He added that big-spending Real Madrid president Florentino Perez was unlikely to get in touch with him about a move.
"I have never had an offer from Real Madrid. He (Perez) won't call me," said Torres.
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