Since bringing in ex-Borussia Dortmund manager Jürgen Klopp, the club have taken huge strides forward by qualifying for the UEFA Champions League as well as appearing in a Europa League final.
Despite spending excessive amounts on players that have not produced what is expected, Liverpool still managed to finish in the top four last season, above rivals Manchester United and usual suspects Arsenal.
Of course, with some wise summer spending to strengthen weak areas in his squad, Klopp could certainly be able to mount something of a surprise title challenge, much like Brenden Rodgers did at Anfield a few seasons ago.
They will have to be a lot more consistent this season, though, and will have a top four finish as their priority.
But how will their season be defined? Here are five fixtures we think could define their season...
Chelsea
Liverpool v Chelsea - Sat 25th Nov
Chelsea v Liverpool - Sat 5th May
Liverpool have beaten Chelsea just twice in the last five seasons and the rivalry between these two sides has been booming ever since those famous Champions League battles many years ago.
It is going to be important for Jurgen Klopp’s side to take a huge six points away from the Champions next season if they're to achieve back-to-back top four finishes at the very least.
Manchester United
Liverpool v Man United - Sat 14th Oct
Man United v Liverpool - Sat 10th March
The biggest club game in England is when Manchester United face Liverpool. Only Real Madrid and Barcelona can boast a bigger match up in world football.
The bragging rights, the points and titles were decided by this fixture. Both teams have shared the spoils through recent years but as the league becomes more and more competitive, the need for a victory is of paramount importance for both teams.
Everton
Liverpool v Everton - Sat 9th Dec
Everton v Liverpool - Sat 7th Apr
The Merseyside derby is usually a formality for Liverpool, with Everton not winning against their local rivals since way back in 2010.
Jürgen Klopp will certainly try and keep up this fantastic record. By doing this, Liverpool will have six more points towards the dream finish of winning the Premier League title come May.
Crystal Palace
Liverpool v Crystal Palace - Sat 19th Aug
Crystal Palace v Liverpool - Sat 31st Mar
Crystal Palace have got the better of Liverpool three times in recent fixtures.
The odd thing about the this game is that of the past five meetings, the away side has come away with the three points.
Crystal Palace remain a thorn in the side of Liverpool and removing that thorn next season will be vital to a title push.
Arsenal
Liverpool v Arsenal - Sat 26th Aug
Arsenal v Liverpool - Sat 23rd Dec
Liverpool versus Arsenal has been one of the most entertaining fixtures in the history of the Premier League, there are always plenty of goals.
Just this season it produced 11 goals across the games at Anfield and the Emirates stadium with Liverpool winning both.
The Gunners will be looking to avenge their two defeats to the reds next season which gives Liverpool an even harder job when they face each other in the new campaign.