With the Gunners currently in ninth and Jurgen Klopp's side in seventh, it is far from the top of the table clash it may have been in years gone by. However, if Mikel Arteta was to earn his fourth victory over Jurgen Klopp in five meetings, it would give his side a significant boost in their pursuit of a top six finish.
Here, 90min looks at the team that should start for Arsenal this weekend.
1. Goalkeeper & Defenders
Bernd Leno (GK) - Arsenal's number one has been subjected to criticism of late for his poor distribution, but it's clear he is under instruction to play out from the back and earns more than enough points for Arsenal with his shot-stopping capability.
Cedric Soares (RB) - The Portuguese right-back earned a first international call-up in three years after dislodging Hector Bellerin as first choice, and is certainly the more in-form of the pair.
David Luiz (CB) - The 33-year-old is one of the first names on the team sheet, though it remains to be seen whether Luiz - a mainstay in the heart of Arsenal's defence in recent months - stays at the Emirates.
Gabriel (CB) - Has struggled to rediscover his early-season form after recovering from COVID-19, but in recent weeks has looked back towards his best. His pace against a rapid Liverpool front-line makes him the best option to partner Luiz.
Kieran Tierney (LB) - Aside from the fact the Gunners don't currently have another natural left-back in their squad, Tierney is key to everything they do both in an attacking and a defensive sense. He's been one of the standout performers this season and when fit, should play.
Granit Xhaka (CM) - Divides opinion among the club's supporters but is clearly one of Arteta's favourites. His positional discipline and ability to build-play from deep areas has been vital to the Gunners' current 4-2-3-1 system balancing.
Thomas Partey (CM) - The £45m signing has formed a strong partnership alongside Granit Xhaka, though unfortunatel injuries have prevented them from playing more together. He's the team's standout midfielder when fit and firing.
Martin Odegaard (AM) - The Norwegian has added another dimension to Arsenal's attack since arriving and presses well from the front. Emile Smith Rowe is a fitness doubt but regardless of that, Odegaard deserves to start in the central position.
Nicolas Pepe (RW) - Bukayo Saka has made the right-wing position his own in recent months but when speaking on Thursday, Arteta confirmed he had yet to train with the team. Pepe's form has improved in the second half of the season and is capable of causing Liverpool's defence problems.
Pierre-Emerick Aubameyang (LW) - Regardless of his up and down form this season, Aubameyang, in the eyes of many, remains Arsenal's most potent goal threat. The Gabonese striker is the perfect man to expose the space vacated by Liverpool's forward-thinking right-back Trent Alexander-Arnold.
Alexandre Lacazette (ST) - He's Arsenal's top goalscorer in the Premier League this season but gives the team so much more than just that. The way he links up play and his ability to lead the press means he should start against the reigning champions.
Source : 90min