The Reds booked their spot in the fourth round of England's oldest cup competition with a 2-0 victory at the Emirates Stadium, their first win against the Gunners since the 2021/22 season.
Jakub Kiwior's 80th-minute own goal gave Liverpool the lead, with Luis Diaz securing the victory with a stoppage-time strike beyond Aaron Ramsdale.
The result means that Liverpool have still only lost one game this season to date and remain in contention to win all four competitions they have entered.
It was a trip that the 7,000-odd Liverpool fans in the Emirates celebrated with ferocity, a near-perfect away day for the supporters fortunate enough to bag a ticket.
For Reds watching on TV at home, it was similarly joyful, Liverpool weathering an early storm before grabbing a late victory.
It was certainly a blockbuster fixture in the FA Cup and one that drew a mass audience. In fact, the peak viewing figures on BBC One saw 7.6m households watching the match, a record for the third round of the competition.
Liverpool's win against Arsenal had a peak audience of 7.6 million on BBC One 📺
— BBC Sport (@BBCSport) January 8, 2024
That's the second time that Liverpool have broken a TV record when playing Arsenal this season, the Reds' 1-1 clash with the Gunners the most watched match in Premier League history in the United States via NBC, Peacock and NBC Sports Digital.
1.96m watched the draw back in December at Anfield in the US in English, that number rising to 2.31m when including Spanish-language broadcasts.
Liverpool, Arsenal and Manchester United remain the three most supported English clubs outside of the United Kingdom, continually managing enormous viewing figures across the world.
It will be interesting to see whether Liverpool and Arsenal can break any more records when they meet in the Premier League at the Emirates on 4 February, both sides fighting one another in the title race.