Both sides will have ambitions of going all the way to European glory given their recent performances and the competition looks wide open once more.
The Reds are 12/1 (13.0) to go one better than last year's showing which saw them beaten by Real Madrid. PSG are available at 15/2 (8.50) although their recent Champions League efforts have failed to live up to their emphatic transfer business and domestic dominance.
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They may be a bigger price in the outright market, but Liverpool are 13/10 (2.30) favourites to keep up their winning streak with three points here. PSG are priced at 2/1 (3.0) with SportPesa making the draw an 11/4 (3.75) shot.
Goals are expected to come thick and fast at Anfield. The Over 3.5 line is just 11/10 (2.10) and that's understandable. Last season the Reds became the first team to have three players score 10 or more goals each during a single edition of the tournament.
PSG racked up 25 goals on their way to winning Group B last term and boast a host of attacking options including Neymar and Kylian Mbappe. Despite a doubt over Roberto Firmino's involvement, this should be an action-packed shootout.
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