The Reds are missing a host of key players at this crucial stage of the season, and this has coincided with a drop in form that led to back-to-back 1-1 draws with Leicester and West Ham.
But according to the Telegraph‘s Chris Bascombe, it is highly unlikely he would feature against Bayern Munich in either leg of the last 16.
Liverpool remain cautious over his recovery, despite previous reports suggesting he will be back in full training as early as late February, and Bascombe claims he is unlikely to be back in action until April.
He describes Oxlade-Chamberlains inclusion in the Champions League squad as “insurance” for if the Reds progress beyond the last 16 and he proves his fitness in the coming months.
Meanwhile, more positively, shorter-term injuries to Alexander-Arnold and Henderson could be resolved for Saturday’s league clash with Bournemouth.
Alexander-Arnold has missed the last three games with an ankle injury picked up in the warmup for the 1-0 win at Brighton and then aggravated as he was kept on for the full 90 minutes at the Amex.
But Bascombe reports that “neither has yet been ruled out to face Bournemouth,” which would be a big boost if they are able to return.
However Wijnaldum, who like Henderson was unable to take to the field in east London due to a knee issue, “is not expected to be fit,” which deprives Klopp of arguably his most consistent midfielder for another big game.