The Blues have seen off both Luton Town and Leeds United in the previous rounds, the Reds defeated Spurs 3-1 at Anfield last month.
Liverpool have won four consecutive matches in all competitions as they host Chelsea, a side who lost 2-0 to Tottenham in their last outing.
Andoni Iraola's side have scored 16 goals in their last five matches, but kept only one clean sheet in that period, whilst Chelsea have scored nine, conceding eight goals across their last five Premier League matches.
Liverpool are favourites to advance to the next round as per the bookies and when looking at the injuries the side are dealing with, it is clear to see why.
Chelsea injuries
Chelsea: Reece James (knee), Emiliano Martínez (jaw), Joao Pedro (thigh), Jamie Gittens (ankle), Pep Chavarría (knock), Emmanuel Emegha (hamstring), Malo Gusto (illness).
Palmer was sent off in the 2-0 Premier League defeat to Tottenham following an incident involving Mateus Fernandes and the second for a foul on Conor Gallagher.
Meanwhile, Pedro suffered a thigh injury during training and will be out for weeks.
Liverpool injuries
Liverpool: Conor Bradley (knee), Jeremie Frimpong (muscle/hamstring), Giovanni Leoni (knee/ACL), Hugo Ekitike (Achilles), Dominik Szoboszlai (thigh/hamstring), Victor Muñoz (knee), Florian Wirtz (ankle).
Szoboszlai has suffered a recurrence of the same hamstring problem that forced him to miss matches earlier in October, he may return to face Arsenal this weekend.
Wirtz twisted his ankle during Liverpool’s 2-0 win over Brighton and he will be assessed before the Chelsea clash, with Liverpool remaining optimistic.