Arsene Wenger's side were blown away in the first half last Saturday, with Liverpool racing into a 4-0 lead inside 20 minutes thanks to two goals from Martin Skrtel and one each from Raheem Sterling and Daniel Sturridge.
Sterling added a fifth after the break before Mikel Arteta's consolation penalty, which could not hide what had been an embarrassing afternoon for Arsenal, who were knocked off the top of the Premier League later that day courtesy of Chelsea's 3-0 win over Newcastle United.
Both sides were in action in midweek, Arsenal playing out a turgid goalless draw at home to Manchester United, while Liverpool needed a last-minute Steven Gerrard penalty to overcome struggling Fulham 3-2 at Craven Cottage.
The clubs remain in contention for the Premier League title, with Arsenal a point behind leaders Chelsea and Liverpool three further back in fourth spot, but their attentions will switch to the FA Cup this weekend.
Arsenal overcame north London rivals Tottenham 2-0 in the third round, before beating League One outfit Coventry City 4-0 to seal their place in round five.
Liverpool have faced lower league opposition in both of their previous outings, recording a pair of 2-0 wins over Oldham Athletic and Bournemouth.
Wenger will welcome back midfielder Mathieu Flamini for the tie, the Frenchman having served his three-match suspension for the red card he picked up in the 2-2 draw at Southampton, although Aaron Ramsey remains out and Santi Cazorla is a doubt due to illness.
Liverpool boss Brendan Rodgers revealed that his squad was likely to be similar to the one that travelled to Fulham, but he is unsure whether full-back Glen Johnson will be fit in time.
"He's working very well," he said.
"I'm not sure he'll be ready for the game this weekend, but if we can have a good week next week he'll be very close.
"He looks fresher and fitter. That period that he's had out has really helped him. He's in good condition, but there's still a bit to go yet."
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