Premier League champions Liverpool are here for the second successive year following a 2019 defeat by Man City, while Mikel Arteta's Gunners have less than a week of training under their belts.
Liverpool started brightly, but Pierre-Emerick Aubayemang's superb opening goal gave Arsenal a deserved 1-0 lead by half-time - and it could have been more had Eddie Nketiah taken his chances.
Takumi Minamino levelled after the break, and neither side could find a winner in normal time - which meant a penalty shootout, with Aubameyang scoring the vital spot-kick in a 5-4 win.
- GOAL! Minamino makes in 1-1
- GOAL! Aubameyang scores stunner
- Van Dijk effort ruled out for offside
- Arsenal XI: Martinez, Aubameyang start
- Liverpool XI: Klopp names strong lineup
Date, time and venue
Arsenal vs Liverpool is scheduled for a 4:30pm BST kick-off this afternoon.
The match will be played behind closed doors at Wembley with no fans due to be present due to government guidelines regarding coronavirus.
How to watch
TV channel: The match will be televised live on BT Sport 1 and BT Sport Ultimate, with coverage starting from 4pm.
Arsenal XI: Martinez, Luiz, Holding, Tierney, Maitland-Niles, Bellerin, Xhaka, Elneny, Saka, Aubameyang, Nketiah
Subs: Leno, Cedric, Saliba, Kolasinac, Olayinka, Willock, Nelson, Smith Rowe, John-Jules
Liverpool XI: Alisson; Robertson, van Dijk, Gomez, N Williams; Wijnaldum, Milner, Fabinho; Mané, Firmino, Salah.
Subs: Adrian, Tsimikas, Keita, Grujic, Jones, Minamino, Elliott, Koumetio, Brewster
Head to head (h2h) history and results
These two giants of English football have met 229 times across all competitions over the years, with Liverpool boasting 10 more wins, 89 to 79.
There have been 61 draws.
Although they lost at the Emirates in July, Klopp's men did brush aside Arsenal 3-1 at Anfield last August before also triumphing on penalties two months later following a 10-goal Carabao Cup fourth-round thriller on Merseyside.
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