The Argentine striker is fit again after injury and will face the Reds.
The Argentina international has been on the sidelines of late through injury, with the current Premier League leaders missing their attacking talisman over recent weeks.
Aguero missed World Cup qualifiers against Brazil and Colombia this week, with City also drawing a blank against Aston Villa last time out without the star.
However, the former Atletico Madrid centre forward is set for an immediate return to the Etihad Stadium outfit’s starting XI.
Pellegrini has confirmed that Aguero will start against Jurgen Klopp’s men due to the fact that Wilfried Bony is out injured and the side have no other options in attack.
"Maybe it's difficult for him because [it's] too many days without playing," the Chilean is quoted as saying by Goal.
"I don't think that he's ready to play 90 minutes, or play two or three games in a week, so it's very important for Sergio to... he must evaluate during the game how many minutes he must play.
"He must start in one game, he must start on Saturday because we don't have Bony so it's important for the team to be with Sergio.”
Aguero was the top scorer in the Premier League last season with 26 strikes and has netted six times in seven starts for Pellegrini’s side in 2015-16.
City are set to be without Samir Nasri, David Silva and Vincent Kompany for the clash against the Reds, with Aguero’s return coming at the right time for the title hopefuls.