Bernd Leno keeps his place in goal despite new signing Runar Alex Runarsson pushing to make his debut.
Gabriel returns to the defence after not playing on Monday night and he comes in for Kieran Tierney.
There are changes in midfield too, with youngster Joe Willock starting in the middle alongside Real Madrid loanee Dani Ceballos.
Out wide, Bukayo Saka and Cedric Soares have chances to impress.
In attack, Eddie Nketiah leads the line after scoring in the last round against Leicester City and he is flanked by Nicolas Pepe.
Arsenal XI: Leno, Cedric, Holding, Gabriel, Kolasinac, Ceballos, Willock, Xhaka, Pepe, Nketiah, Saka
Subs: Runarsson, David Luiz, Tierney, Elneny, Maitland-Niles, Nelson, Lacazette
Liverpool XI: Adrian, N. Williams, R. Williams, Van Dijk, Milner, Grujic, Jones, Wilson, Salah, Jota, Minamino
Subs: Kelleher, Fabinho, Wijnaldum, Gomez, Robertson, Origi, Elliott