The English giants are staring at a premature exit after Lyon's 2-1 victory at Anfield a fortnight ago left them with two defeats from three in Group E.
Rafa Benitez's men were reduced to nine as they suffered a 3-1 defeat at Fulham on Saturday - their fifth loss in 11 Premier League games - and have a host of injury problems for the trip to France.
Lyon need just a point to book their place in the knock-out stages and coach Claude Puel is under no illusions about the Reds' big-game pedigree.
"Liverpool may have their problems, but after we beat them they turned in a great performance against Manchester United," he said.
"They were tough, played at a great pace and fully deserved the victory. We saw then that they have great potential to bounce back.
Great club"They are still a great club and capable of playing great games when they want, with fine players and a great coach.
"But we will only be thinking about winning, not just playing for the draw," Puel added. "Whether it is one point that we need or three, we will always play the same way.
"But we must get something from this match. We do not want to be needing to get points to qualify in the match against Fiorentina in Florence.
"Three teams can still qualify. It is a very tough group and maybe 12 points will not be enough to win the group.
"I believe that Liverpool will work very hard, put us under a lot of pressure and be determined to reverse the results that they have been getting so far in Europe this season. They will be tough opponents."
Liverpool dominated English and European football in the 1970s and 80s, and although they have not won a league title since 1990, Benitez has led them to two Champions League finals in the last five years.
Steven Gerrard and Glen Johnson have not travelled, while star striker Fernando Torres is struggling with a hernia problem, but Lyon's Swedish midfielder Kim Kallstrom remains wary of the Reds.
"As a boy I watched Liverpool on TV and always admired them, many youngsters back then did," he said.
Surprise"I suppose that to see them in their current position is a surprise, but it is not something that they cannot turn around.
"Things happen like this to even the greatest teams. There can be a few defeats, then a dip in confidence and one bad thing follows another.
"Everything seems to go wrong all at once. But they can recover from this.
"We know they have injuries, but it is not something we have been talking about.
"We have to plan for the match as if nothing of that sort had happened. They are still a great club with great players, and we must not forget that."
Kallstrom added: "He (Torres) is probably the best in the world, I have played against him at international level and he is very clever with the ball and a very tough opponent.
"He is Liverpool's best player and whatever injury he has, we must concentrate on stopping him and being clinical in our own play to get the result we need."