The Gunners currently hold the coveted spot in the table, with Liverpool residing in third, two points adrift of this weekend's competitors, level with second-placed Chelsea.
Depending on Chelsea's result in their early kickoff against Newcastle United, the Reds could potentially go to the number one spot if they defeat Arsenal, who are unbeaten in their last eight league fixtures.
All eyes will be on Liverpool striker Luis Suarez, who was the subject of a rejected reported £40,000,001 bid from Arsenal in the summer window, and he heads into this weekend's clash off the back of a hat-trick in Saturday's 4-1 win over West Bromwich Albion.
While Liverpool are reaping the rewards of a Suarez and Daniel Sturridge strike partnership, the Gunners have been prolific themselves, with Olivier Giroud making many of the headlines as well as the influence of summer signing Mesut Ozil.
This fixture last season resulted in a 2-2 draw at the Emirates, with Liverpool relinquishing their lead to share a point with their Premier League rivals.
For Arsene Wenger's Arsenal, Jack Wilshere could feature in the encounter, while Mikel Arteta is expected to return to the fold following his suspension as a result of the red card he picked up during last weekend's 2-0 victory over Crystal Palace.
Possible starting lineups
Arsenal: Szczesny; Sagna, Mertesacker, Koscielny, Gibbs; Arteta, Wilshere, Ramsey, Ozil, Cazorla; Giroud
Liverpool: Mignolet; Johnson, Cissokho, Toure, Sakho, Skrtel; Lucas, Gerrard, Henderson; Sturridge, Suarez
Sports Mole says: 1-1