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They also met in the competition's new league phase format last season with the Reds coming from behind to win 3-1 at the San Siro.
Much has changed for Milan since, most notably the manager as Massimiliano Allegri is back in charge, though the first game of his second spell ended in defeat at the hands of Arsenal in midweek.
Meanwhile, Liverpool followed up a 3-1 win over Preston by thumping Stoke 5-0 in a training match last weekend and have bolstered their attacking options even further ahead of kick-off with the signing of Hugo Ekitike from Eintracht Frankfurt.
The Frenchman has already joined up with his new team-mates in Hong Kong which means he is in line to make his debut in a fixture that has served up many classic over the years.
Below is everything you need to know about where to watch this one unfold...
TV channel: In the UK, the game will be broadcast live on LFCTV.
Coverage starts at 11.30am BST ahead of an 12.30pm kick-off.
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Live stream: Subscribers will be able to watch on a live stream via All Red Video (formerly LFCTV GO).
A monthly subscription starts at £4.99.
Live coverage: You can follow all the action with Standard Sport’s LIVE blog!
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