A win for Liverpool in their third Champions League group game would move Jurgen Klopp 's team within touching distance of the last 16 of the competition.
The Reds sit top of Group B with maximum points from their first two games, having followed their topsy-turvy win at home to AC Milan with a 5-1 hammering of FC Porto at Estadio do Dragao.
However, they now face what might be their toughest test of the group as they travel to face an Atletico Madrid side who eliminated them from the competition in 2019-20.
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Liverpool lost 1-0 at Atletico's Wanda Metropolitano stadium back in February 2020, with the only goal of the game scored by Saul Niguez, before eventually losing in extra-time at Anfield.
Klopp's team go into the game off the back of an impressive 5-0 Premier League victory away to Watford, in which Roberto Firmino scored his first hat-trick of the season.
However, their opponents have had some extra rest after their league match against Granada was postponed.
Atletico Madrid sit fourth in La Liga with 17 points from eight games, which is one fewer than Liverpool's Premier League tally.
The Spanish champions are second in their Champions League group after Luis Suarez's stoppage-time penalty helped them complete a come-from-behind win in Milan last month.
Diego Simeone's team drew 0-0 against Porto in their first group game, and reached the last 16 in the 2020-21 competition.
What time is Atletico Madrid vs Liverpool?
Kick-off is at 8:00pm on Tuesday.
It is the first meeting between the two sides since Atletico Madrid won 3-2 after extra-time to eliminate Liverpool from the Champions League in March 2020.
The Spanish team also knocked the Reds out of the 2009-10 Europa League at the semi-final stage, while the teams played out two draws in the group stages of the 2008-09 Champions League.
What channel is it on?
BT Sport will televise the game, with coverage beginning at 7:45pm on BT Sport 2.
Subscribers will also be able to watch the action via the BT Sport website or stream it via the BT Sport app.
Live radio commentary will be available on BBC Radio 5 Live.
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Match odds
Atletico Madrid 47/20
Draw 49/20
Liverpool 6/5
*odds subject to change
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Team news
Liverpool duo Alisson and Fabinho both travelled straight to Spain following their international appearances for Brazil.
The pair are both in contention to feature after missing the match against Watford on Saturday, while Diogo Jota could make his first appearance since withdrawing from the Portugal squad through injury.
While Jota was an unused substitute against Watford, Curtis Jones didn't feature at all.
Klopp revealed he hopes to have the midfielder back in contention for Sunday's meeting with Manchester United, but the match against Atletico is expected to come too soon.
Harvey Elliott is also out of action for the Reds as he continues his recovery from the injury suffered against Leeds United in September, while Thiago Alcantara could miss out again.
Atletico Madrid duo Matheus Cunha and Marcos Llorente sat out their countries' international fixtures but are both in contention to return.
The home side will be without the suspended Stefan Savic, but fellow centre-back Jose Gimenez may be available despite suffering an injury on international duty with Uruguay.
"We will see how Marcos Llorente, Jose Maria Gimenez and Matheus Cunha are tomorrow," manager Diego Simeone said on Monday afternoon.