Arsenal took the lead in the Premier League on Monday night through Alexandre Lacazette but were ultimately overwhelmed as Liverpool turned in one of the most polished performances of the season.
These two shared a thrilling 5-5 at the same stage of this competition last year, but Thursday's game ended goalless before the visitors triumphed on penalties.
Bernd Leno saved from both Divock Origi and Harry Wilson as Arsenal booked a quarter-final date with Manchester City.
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Date, time and venue
Liverpool vs Arsenal is scheduled for a 7.45pm BST kick-off tonight.
This match will be played behind closed doors at Anfield with no fans due to be present due to government guidelines regarding coronavirus.
How to watch
TV channel: The match will be televised live on Sky Sports Football from 7pm, with kick-off at 7.45pm. It is also available via Now TV with a day pass for £9.99, or a three-month pass on offer for £25.
Live stream: Sky Sports subscribers can stream the match online via SkyGo and the SkyGo app, with a mobile month pass available for £5.99.
Liverpool XI: Adrian, N. Williams, R. Williams, Van Dijk, Milner, Grujic, Jones, Wilson, Salah, Jota, Minamino
Subs: Kelleher, Fabinho, Wijnaldum, Gomez, Robertson, Origi, Elliott
Arsenal XI: Leno, Cedric, Holding, Gabriel, Kolasinac, Ceballos, Willock, Xhaka, Pepe, Nketiah, Saka
Subs: Runarsson, David Luiz, Tierney, Elneny, Maitland-Niles, Nelson, Lacazette
Prediction: Liverpool 2-3 Arsenal
We saw four goals at Anfield on Monday and with so many changes expected from both managers, it could result in a very open contest with a flurry of goals.
Klopp will be inclined to give some of the academy players a run-out and while Arsenal were outclassed last time out, this match will almost certainly see a more positive approach from Arteta's men.
For that reason, the Gunners will be going all out to take their place in the last eight with a realistic chance of silverware within touching distance.