The 16-year-old impressed in the previous round of the competition in their 2-0 win at MK Dons and he was denied a goal twice by the woodwork.
Jurgen Klopp looks likely to make changes all over the pitch against the Gunners and Elliott will feature at some point.
In May, Elliott became the Premier League’s youngest ever player when he entered the pitch for Fulham at Molineux, aged 16 years and 30 days old.
Since then he has joined Liverpool and the boyhood Reds fan revealed his hopes for progression at Anfield.
“I’ll work as hard as I possibly can for the club and I feel Anfield is the perfect place for me to develop and progress as a player,” he said.
Harvey Elliott – The stats so far
All you need to know about Liverpool's newest youth prospect
Age – 16
Current Club – Liverpool
Former Club(s) – Fulham
Youth Development – QPR, Fulham
Position – Winger
Nationality – English
Premier League appearances – 2
EFL Cup appearances – 2
Club career so far
Elliott became Fulham’s youngest ever player when he made his debut in an EFL Cup victory over Millwall last September. He was just 15 years and 174 days old.
Following the sacking of Claudio Ranieri, caretaker manager Scott Parker included him in three Premier League match day squads before handing him his record-breaking top flight debut against Wolves.
One week later he made a second substitute appearance against Newcastle at Craven Cottage.
In total, he has played 18 minutes of Premier League football in his career so far.
Showing masses of potential and drawing interest from Real Madrid, Barcelona and Paris Saint-Germain, he signed for Liverpool in July 2019.