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The Merseyside club, who have won the European Cup five times, beat AS Roma 7-6 on aggregate in the semi-finals to advance to a showpiece clash against holders Real Madrid.
Real, who edged past Bayern Munich in the semis, are hunting for a hat-trick of Champions League triumphs after winning the competition in both 2016 and 2017.
A Bernabeu brace from Karim Benzema was enough as Real Madrid just about beat Bayern 4-3 over two semi-final legs.
Bayern were much improved after a disappointing 2-1 first-leg defeat, but a 2-2 draw in Madrid ensured Zinedine Zidane's men reached their third final in three years.
When and where is the final?
The 2017-18 Champions League final will take place on 26 May, 2018.
The match will be played at the
NSC Olimpiyskiy Stadium in Kiev, Ukraine.
The stadium previously hosted the Euro 2012 final and holds a maximum capacity of 63,000 - the second largest in Eastern Europe.