Jurgen Klopp’s side have been in tremendous form so far this season, with Mohamed Salah’s performances bolstering his claim to being the world’s best player at present.
It was the Egyptian’s magical solo goal that stole the show in a 5-0 thrashing of Watford that saw the Reds maintain their unbeaten start in the Premier League.
Liverpool sit two points clear at the top of Group B after an emphatic victory over Porto but know they cannot afford to slip up, with AC Milan also pushing for a place in the knockout stages.
Here is everything you need to know:
When is it and what time is kick-off?
The match will get underway at 8pm BST on Tuesday 19 October.
How can I watch it online and on TV?
The match will be broadcast live via BT Sport 2 and the BT Sport App, with coverage beginning at 7.45pm BST.
What is the team news?
Stefan Savic is suspended while Matheus Cunha and Jose Gimenez are both set to miss out but, in more positive news for Atletico, Marcos Llorente may be in line to return.
Alisson and Fabinho are set to feature after flying straight to Madrid from Brazil. However, Thiago Alcantara and Curtis Jones are both set to miss out, while Harvey Elliott continues his long recovery on the sidelines.
Atletico Madrid: Oblak; Felipe, Kondogbia, Hermoso; Trippier, De Paul, Koke, Lemar, Carrasco; Suarez, Griezmann.
Liverpool: Alisson; Alexander-Arnold, Matip, Van Dijk, Robertson; Henderson, Fabinho, Keita; Salah, Firmino, Mane.
What are the odds?
Atletico – 11/5
Draw – 23/10
Liverpool – 5/4