The Reds last competed in the season's annual curtain-raiser back in 2006, when goals from John Arne Riise and Peter Crouch secured a 2-1 victory over Chelsea.
The match traditionally pits the league champions against the FA Cup winners but with City claiming both titles last term, top-flight runners-up Liverpool face Pep Guardiola's side instead.
This will be the Reds' 22nd appearance in the fixture, with David Ashworth's title-winning team making the club's debut in the competition - previously called the Charity Shield - in 1922, when they were pipped 1-0 by Huddersfield Town at Old Trafford.