The CONCACAF Champions League winners beat Al Sadd 3-2 in their opening game of the tournament in Qatar on Saturday evening.
They therefore progress to the last four and will meet the Reds at Khalifa International Stadium on Wednesday December 18.
Earlier in the day, Bafetimbi Gomis’ goal was enough to earn Al Hilal a 1-0 win over ES Tunis, meaning the AFC Champions League holders are set to take on Flamengo in the other semi-final on Tuesday.
FIFA Club World Cup semi-finals
December 17 – Flamengo v Al Hilal
December 18 – Monterrey v Liverpool
Click here to view an updated 2019-20 fixture list.