The Reds blew a 2-0 lead against Shrewsbury in the fourth round at the weekend as Sam Ricketts' side forced a replay thanks to a brace from substitute Jason Cummings.
Speaking after the game, Jurgen Klopp revealed a Liverpool side managed by U23s boss Neil Critchley and consisting solely of youngsters will take to the field at Anfield.
Should Liverpool's young guns progress against the League One side, the Reds will travel to Stamford Bridge in the fifth round.
A potential meeting between the two sides would undoubtedly be the most-anticipated fixture of the round. The fifth-round ties are set to take place in the week starting Monday, 2 March.
Klopp has often opted to heavily rotate his side in the domestic cups during his time at Anfield. It will be intriguing to see if he changes tact, should the Reds prevail against Shrewsbury.
Liverpool's replay against the Shrews will be on either 4 or 5 February, with the club already announcing heavily discounted ticket prices for supporters.
The usual Liverpool first-team and coaching staff will be on their winter break during that time, with Klopp insisting he is simply following instructions from the Premier League.
Fifth Round Draw
Sheffield Wednesday vs Manchester City
Reading or Cardiff vs Sheffield United
Chelsea vs Shrewsbury or Liverpool
West Brom vs Newcastle or Oxford
Leicester vs Coventry or Birmingham
Northampton or Derby vs Manchester United
Southampton or Tottenham vs Norwich