The Brazil international has been eased back into action since returning to club duty earlier this month, starting his first game of the campaign against Burnley last time out.
Coutinho is one of three players to retain their spot in the side for last season's beaten semi-finalists, with boss Jurgen Klopp making eight changes on the back of the disappointing 1-1 draw against the Clarets at the weekend.
There are starts for fringe players Jon Flanagan, Marko Grujic, Dominic Solanke and Danny Ward, while Alex Oxlade-Chamberlain is used from the off for the first time since joining from Arsenal on deadline day.
Leicester City: Hamer; Amartey, Dragovic, Morgan, Chilwell; Albrighton, Iborra, Ndidi, Gray; Slimani, Ulloa
Subs: Jakupovic, Benalouane, Choudhury, Mahrez, Musa, Okazaki, Iheanacho
Liverpool: Ward; Flanagan, Gomez, Klavan, Robertson; Henderson, Grujic, Wijnaldum; Oxlade-Chamberlain, Coutinho, Solanke
Subs: Karius, Milner, Moreno, Ings, Markovic, Woodburn, Alexander-Arnold
Follow all of the action as it unfolds in the East Midlands with Sports Mole's live text coverage right here.