FC Porto opened with +380 odds but are out to +1400 following the 2-0 loss in the opening leg.
Jordan Henderson came off with a knock in Sunday's 2-0 win over Chelsea but after the match, the Liverpool boss made it clear that his captain was fine which means the England global will start in midfield alongside Fabinho.
Meanwhile, Jordan Henderson has travelled after being forced off in the win over Chelsea with an ankle problem.
"Pretty much all the rest are travelling", he added.
"Ox is not, it makes more sense for him to train here".
Porto captain Hector Herrera, who missed the first leg through suspension along with Pepe, is confident his side can turn the tie on its head tonight.
"But my players are not silly, they do not underestimate things like this".
"Militao can play right full-back, which changes a lot for them".
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The Reds won the first leg 2-0 at Anfield but Jurgen Klopp's men were given quite the scare by Porto. They had chances, and we were very clinical on the counter-attack.
"The season is not finished in this competition".
"Liverpool are unbeaten in their seven previous European ties with Porto and I expect them to win in the Estadio de Dragao although it is unlikely to be as emphatic a scoreline as last season's last 16 tie when the Reds romped to a 5-0 success", Owen told BetVictor.
However, a goal by Liverpool would ultimately sink any chances since Porto would need four to advance.
But the Portuguese champions overturned a 2-1 deficit against Roma in the last round when they beat the Italians 3-1 at home.
Sadio Mane scored a hat-trick for Liverpool against Porto in last season's Champions League; only Luiz Adriano (against Bate Borisov) and Cristiano Ronaldo (against Atletico Madrid) have ever scored more than one hat-trick against an opponent in the Champions League, while no player has ever scored two away from home against one club.
"Can he play 90 minutes in a Champions League game?" said Klopp, of Gomez.
Michael Owen is backing Liverpool FC to ease into the Champions League semi-finals thanks to a victory over FC Porto on Wednesday night.