The 20-year-old, currently on loan at AEK Athens from the Merseyside club, bagged twice in Hungary’s quarter-final win over Italy to book a last-four clash with Ghana.
Nemeth has been based at Anfield since 2007 and while he is still waiting to make his first-team debut, he has been studying Torres's every move in training.
The last-gasp victory over Italy ensures Hungary have exceeded pre-tournament expectations according to Nemeth, but the youngster believes his goals can see his side upstage the odds again.
"To be honest, I didn't think that we would reach the semi-finals, but I'm happy we're in this position," he said. "I thought we were always capable of getting good results, but now we can show that we deserve to be in the final four.
"I had some (injury) problems before coming to Egypt and in the group stages, but you have to put them out of your head.
"Before that I was preparing for the season with the Liverpool first-team squad and I was trying to check every single thing he (Torres) did.
"He is such a fantastic player and I'm trying to learn as much as possible."
Hungary’s 3-2 win over Italy was arguably the most gripping of the tournament to date with three goals in extra-time as the Azzurri were reduced to eight men.
The victory came at a price however, as influential captain Vladimir Koman, who plies his trade with Italian side Bari, picked up a booking, ensuring he will miss the clash with Ghana.
"The Italy game was certainly the tensest match of the tournament, but I'm not sure if it was our best performance," added Nemeth.
"Obviously Koman is one of our best players, so we're going to play for him, because he deserves the chance to play in the final.
"To do that, we have to win. I expect a very hard game. We know that they are quick and strong, but we might have the edge tactically. I'm sure it will be a great game - and I think we can win it."
Meanwhile, Ghana sharpshooter Dominic Adiyiah has been in superb goalscoring form in Egypt, having netted on six occasions which puts him two clear in the race for the Golden Boot.
Adiyiah, who is currently on the books of Norwegian outfit Fredrikstad FK, has formed a formidable strike partnership with Ransford Osei as the pair have notched ten goals between them so far.
And Adiyiah believes Ghana’s striking power will be enough to book the Black Satellite’s place in the final.
"Osei is a very good guy," said Adiyiah. "He's a very good player and I think that we're doing well as partners since we've started playing together.
"We're both scoring and we're helping each other to deliver their potential.
"Hungary are not a bad side at all so we're going to have to give everything. We know that we have to be disciplined and do our jobs. We'll all be willing to give our best.
"It's been a long time since Ghana reached this stage of the competition and we're all thinking that this is our time."