The game has been organised by the LFC Foundation and will see some of the clubs’ greats go head to head.
They have a rich history as rivals, particularly in the last 15 years.
Liverpool famously came back from 3-0 down at half-time to beat AC Milan on penalties in the 2005 Champions League final in Istanbul.
Then they made the final together in 2007, but Milan beat them 2-1 on the night.
Some may say today’s game at Anfield is the completion of the trilogy, considering most involved played in both of those matches.
And thanks to Liverpool’s YouTube page, you can watch the game live:
Gerrard is among those involved, with the Rangers manager returning to Liverpool while the majority of his squad are out on international duty.
He’s joined by the likes of Jerzy Dudek, Jamie Carragher, Luis Garcia, Robbie Fowler, Dirk Kuyt and Michael Owen.