The 60-year-old, who returns to the dugout for his first Merseyside derby in 20 years, is confident that the "desire to win" remains strong year on year.
"The competition is still as intense and the desire to win is the same as before," Dalglish said.
"I don't think it has devalued - it doesn't matter how long ago it was you have been involved or not or how recently.
"It is a Merseyside derby and like everyone who has been involved in it they think it is the most important one."
Meanwhile, the Reds boss has revealed that he will not rush back captain Steven Gerrard for the showdown.