Sanchez, with less than a year remaining on his current deal at the Emirates Stadium, has been consistently connected with a move away this summer.
He could walk away for free at the end of the current season if no new deal is agreed but Arsène Wenger has insisted several times Sanchez will not be sold, although links with Manchester City persist.
The fact Sanchez has missed Arsenal's opening three games of the new campaign has only fuelled rumors he is set to depart, but now Wenger is ready to involve him at Anfield.
A combination of illness and an abdominal strain saw Sanchez sit out the Community Shield win over Chelsea and Premier League games against Leicester and Stoke - the latter game seeing the Gunners slip to a 1-0 defeat.
Coincidentally, it was at Liverpool last season where Wenger shocked supporters with his team selection as he dropped Sanchez to the bench for a 3-1 loss.
The Frenchman is ready to use Sanchez this time out, following his return to fitness.
"Alexis has worked very hard to be back again and he is available," said Wenger. "He works very hard, is focused and gives absolutely everything. He loves to play so much that it is sometimes difficult to stop him but he looks absolutely ready.
"He has not played for a long time so I will have to decide what I do with him but he looks ready to play."
Sanchez may only make the bench at Anfield with big summer signing Alexandre Lacazette expected to continue up front, while Wenger can also welcome back key defender Laurent Koscielny following his suspension at the start of the season.