The two sides have met 239 times, but this renewal could be one of the most important in recent years.
Jurgen Klopp's men must keep the pressure on table-toppers Manchester City, while Frank Lampard's side are desperate for points to ensure their topflight status next campaign.
The Reds thrashed fierce rivals Manchester United 4-0 in midweek, and will be confident of recording their 97th victory in this fixture.
The Toffees are just one point above the relegation places, and still have to face Chelsea and Arsenal in their last six fixtures.
Roberto Firmino missed LFC's drumming of United on Tuesday with a foot injury, and the match may come too quickly for the Brazilian.
Everton will be without their centre forward Dominic Calvert-Lewin, who has a thigh issue.
Lampard will also be missing Andre Gomes, Donny Van de Beek and Tom Davies, leaving him with limited options in the middle of the park.
Ones to watch
Liverpool - Mohamed Salah
Salah ended his seven game goal drought last time out as he netted twice against Ralf Rangnick's side, and looked back to his brilliant best.
The Egpytian scored a brace when the two sides met at Goodison last year, and will be eager to leave his mark on the fixture once again.
Everton - Anthony Gordon
The young winger has been the Toffees bright spark this season, and has six goal contributions to his name.
The 21-year-old scored the winner in Everton's 1-0 against the Red Devils two weeks back, and the local lad will be looking to inspire his side at Anfield.
Liverpool: Alisson, Alexander-Arnold, Matip, Van Dijk, Robertson, Fabinho, Henderson, Keita, Salah, Jota, Mane.
Everton: Pickford, Coleman, Mina, Godfrey, Mykolenko, Allan, Delph, Iwobi, Gordon, Richarlison, Gray.
Liverpool are undefeated in the league this calendar year, and have won 11 of their last 12 in the topflight.
Everton have picked up four point from their last two matches, after a run of five defeats in six in all competitions.
The Reds are full of confidence coming into Sunday's derby, and should have too much for their neighbours from across Stanley Park.
The Toffees dire defensive record makes it difficult to see them taking anything from the game.
Prediction - Liverpool 5-0 Everton
How to watch
The match will be available to watch in the UK on Sky Sports, with kick-off commencing at 4.30PM. The match highlights will also be available Sunday night on Match Of The Day 2, on BBC One at 10.30PM.