In years gone by, the Reds have often used the window as a chance to refresh their squad ahead of the second half of the season.
Whilst some other clubs tend to focus more on their summer business, and only spend in January if necessary, Liverpool take a different approach to the window.
How much money Jurgen Klopp's side are willing to spend is another question, but don't be surprised to see new additions this season, like the signing of Luis Diaz from Porto last January.
Let's take a look at five of the Reds' best January signings, in particular order, from the beginning of the Premier League era.
Virgil van Dijk (Southampton to Liverpool, 2018)
When Virgil van Dijk posed in front of a Christmas tree in December 2017, Liverpool shirt in hand, Reds fans could only dream of the impact that he would make on the club.
Liverpool spent a then-world record fee of £75 million to acquire the defender, meaning there was plenty of pressure on Van Dijk to perform.
Seven trophies later, including a Champions Leaguetrophy and a first top division title since 1990, it is fair to say that £75m was money well spent.
Luis Suarez (Ajax to Liverpool, 2011)
Liverpool pulled off one of the most chaotic deadline day swoops of all-time in 2011, bringing in Luis Suarez and Andy Carroll to replace Chelsea-bound Fernando Torres.
Carroll eclipsed Suarez's transfer fee by nearly £28m, with Liverpool paying £50m to sign him from Newcastle. But it was the Uruguayan who ended up having a far greater impact at Anfield.
He produced one of the greatest Premier League seasons ever witnessed in 2013/14, smashing in 31 goals - despite missing the first five games of the campaign due to serving a ban for biting Chelsea's Branislav Ivanovic
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