Even so, it's a fixture that has been primarily dominated by Liverpool, who have prospered against their rivals on 114 occasions in all competitions, while the Toffees have 82 victories to their name.
However, while the red half of the city may be able to boast a better head to head record, it hasn't always been plain sailing.
Back on this day in 1894, newly-promoted Liverpool made the trip across Stanley Park for what was the first ever official Merseyside derby.
A reported 44,000 people, including the Lord Mayor of the city, packed inside Goodison Park to witness the contest, with the deadlock being broken by the home side after just 10 minutes.
McInness then turned provider as the home side added a second goal before the break. His pass found Alex Latta and the outside right struck his effort beyond the reach of visiting goalkeeper William McCann.
The home side continued to dominate proceedings after the restart and with the light fading, they scored a third goal in the closing stages. John Bell's effort didn't appear to be causing many problems, but a late deflection took the ball into the bottom corner of the net.
In the 'Everton Collection', it was revealed that each player would receive a certain reward for their victory: "Liverpool match – Resolved each player shall have a silk hat bonus, value 20 shillings, in addition to their bonus."
The derby would soon be put on hold for a season due to Liverpool's relegation, but they soon returned and eventually claimed their first victory over Everton in October 1896.
EVERTON: Cain; Adams, Holt, Stewart; Parry, Boyle; Latta, McInness, Bell; Hartley, Southworth
LIVERPOOL: McCann; Hannah, McCartney, McQue, McLean; McBride, McQueen, Bradshaw, Kerr, Ross; McVean