Arne Slot and Eddie Howe's men are set to do battle for the third time this year, and it's set to be a brilliant occasion.
The Reds are looking to win Slot his first trophy after an excellent start to life on Merseyside.
The Dutchman has Liverpool cruising towards the Premier League title, while they are looking good in the Champions League as well.
Meanwhile, after nine wins in a row for Newcastle not too long ago, things have hit the buffers, and they are set to be without some key players for this match.
However, the Toon are capable of beating the best on their day, and they'll be out to finally end the club's long trophy drought.
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But there isn't just a trophy up for grabs.
Do the Carabao Cup winners get Europe?
The winners of the Carabao Cup this season are guaranteed a place in European competition next season.
Should Liverpool or Newcastle United win, they will seal a spot in the play-off round of the Europa Conference League.
This would see them join the competition at the same stage as five sixth-placed teams from Europe's top leagues and then a mixture of qualifiers and those eliminated from Europa League qualifying.
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However, with Liverpool looking set to win the Premier League, they would get a spot in the Champions League next year.
Newcastle are also embroiled in the battle for a place in UEFA's premier competition, along with several other teams, with the league extremely tight.
So, there is the potential for things to change.
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Should the Carabao Cup winners finish in the top five this season, the Conference League play-off spot would go to the next highest-ranked team not in European competition.
So, the runner-up wouldn't get European football unless they earned it through the league.
Either way, the winners of this tournament are guaranteed a place in Europe.
Carabao Cup final 2024/25: talkSPORT coverage
The 2024/25 Carabao Cup final is set to take place at Wembley Stadium on Sunday, March 16.
Kick-off at Wembley Stadium is scheduled for 4:30pm.
talkSPORT will have live coverage of the final presented by Adrian Durham.
Commentary will come from Sam Matterface, former England striker Darren Bent and former Newcastle midfielder Lee Clark.
In addition, talkSPORT.com will provide a live blog to cover all of the best action and reaction from Wembley.
To tune in to talkSPORT through the website, click HERE for the live stream.
Listen via the talkSPORT app here, or on DAB digital radio, through your smart speaker and on 1089 or 1053 AM.
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The match will also be broadcast live on TV on Sky Sports Main Event and Football, as well as free-to-air ITV1 and on ITV X.
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