The England international missed the Reds' two penultimate pre-season friendlies with a slight hip injury and despite returning to first-team training on Friday, has been left out.
Reports suggested he was fit to be involved against the Gunners, but that Klopp instead excluded him as the club carefully manage his fitness, although whether those stories hold any truth will not likely be learned until later in the day.
Rumours earlier in the day did the rounds on social media suggested that Emre Can would miss out with a dead leg and he is named on the bench.
In Klopp's forward-thinking line-up, captain Jordan Henderson is flanked by natural attacking midfielders Adam Lallana and Georginio Wijnaldum in a three-man centre.
The summer signing makes his competitive debut for the club, while James Milner remains out with a heel injury as expected. Although earlier in the week Klopp said that the midfielder's problem is "not too serious."
Divock Origi is the only recognised striker on the bench while Roberto Firmino is chosen to lead the line, supported by Sadio Mane and Philippe Coutinho in what is expected to be a 4-3-3 formation.
Danny Ings has not travelled, instead playing and scoring for Liverpool Under-23s as they were well beaten by Southampton at Prenton Park earlier in the afternoon. The striker completed the full 90 minutes in a 4-1 defeat.
In addition to Mane and Wijnaldum, Ragnar Klavan makes his first official appearance alongside Dejan Lovren at centre-back with Joel Matip only deemed fit enough for the substitutes' bench.
Behind them, Simon Mignolet takes his place in goal with summer signing Loris Karius out until October with a broken hand. Veteran Alex Manninger, formerly an Arsenal player between 1997 and 2002, is the back-up on the bench.
Christian Benteke, who has been heavily linked with a move to Crystal Palace or West Bromwich Albion in the last few days, has no place in the squad. Nor does forward Lazar Markovic, whose future is also uncertain.
Otherwise on the bench are teenager Trent Alexander-Arnold and another new signing in Marko Grujic, both of whom also performed well in pre-season.
It means Klopp has made two changes to the team that beat Barcelona 4-0 in pre-season last weekend.
Teams in full:
Liverpool XI: Mignolet; Clyne, Lovren, Klavan, Moreno; Wijnaldum, Henderson, Lallana; Coutinho, Mane, Firmino.
Liverpool Bench: Manninger, Matip, Alexander-Arnold, Grujic, Stewart, Can, Origi.
Arsenal XI: Cech; Bellerin, Holding, Chambers, Monreal; Elneny, Coquelin; Walcott, Ramsey, Iwobi; Sanchez.
Arsenal Bench: Ospina, Gibbs, Xhaka, Cazorla, Wilshere, Oxlade-Chamberlain, Akpom.