Maurizio Sarri's side currently sit three points behind the Gunners in the Premier League table, but their London rivals do not play again until April while fifth-placed Manchester United are in FA Cup action this weekend.
Victory on Merseyside would be a major boost to their hopes of finishing in the Champions League places, then, although it would take a win by six clear goals for them to end the day in fourth.
Here, Sports Mole looks at how the Blues could line up on Merseyside.
Gonzalo Higuain is expected to recover from his illness in time for this weekend's match, but he may have to settle for a place on the bench after Olivier Giroud netted a hat-trick against Dynamo Kiev in midweek.
Eden Hazard will return to the side after being rested in the Europa League, while Pedro appears to be Sarri's Premier League preference to complete the front three ahead of Willian and Callum Hudson-Odoi at the moment.
Emerson Palmieri is another who has worked his way into Sarri's first-team plans at left-back, although Marcos Alonso may be hopeful of keeping his place after getting on the scoresheet on Thursday night.
Other key players such as Cesar Azpilicueta, David Luiz and Jorginho are also expected to return to the side, while Ross Barkley will be hopeful that his midweek absence is a sign that he will start this weekend.