The game will be played at the Aviva Stadium, where the Reds faced Celtic in pre-season last summer, on May 14.
Liverpool have pledged to send a first-team squad but no players set to feature in this summer's World Cup will be involved.
They last faced Rovers, from whom they signed full-back Jim Beglin in 1983, 32 years ago.
"We are looking forward to coming back to Dublin again this year," said Billy Hogan, Liverpool's chief commercial officer.
"The club enjoys incredible support in Ireland and we thank the Football Association Ireland for their support in staging the game."
- Sports & Recreation