Peplow, who joined the club as an apprentice in 1964, made three first-team appearances for the Reds.
The Scouser signed professional terms with Liverpool at the start of 1966 and was a prolific goalscorer for the reserves.
Having bagged 19 goals for the reserves in 1968-69, the forward earned opportunities with Bill Shankly's senior team in the following campaign.
He made his debut for the club at Anfield in a 2-0 win over West Ham United in November 1969 – the first match televised in colour on the BBC's Match of the Day – and then started the next two matches.