The two sides were pitted against each other in Monday’s draw, and will face each other in the third round for the second time in three years.
BBC will be showing the game live in the UK, with a kick-off time of 4:01 pm.
It will be the second meeting between the Merseyside rivals this season, with Liverpool having routed their neighbours 5-2 in the Premier League this week.
All third-round matches are kicking off one minute later this year to raise awareness around mental health.
All third round fixtures will kick-off one minute later than usual to encourage fans to Take A Minute to think about taking care of their mental health.
— Football on BT Sport (@btsportfootball) December 5, 2019
The match will arrive after a very busy period of 12 games in 36 days, including the Club World Cup in Qatar.
Therefore, you can expect a heavily rotated side, as is the norm for Liverpool in domestic cup competitions.
The Reds exited the competition at the third round last season with a 2-1 defeat away to Wolves.
The season before that saw a fourth-round exit to West Brom, which is the furthest Liverpool have ever got in the competition under Klopp.