The Foxes' 3-1 win in Manchester at the weekend could be a big confidence booster on Merseyside.
Leicester City haven't exactly done Liverpool any favours recently. Indeed, Jamie Vardy's double not only showcased Leicester's quality against the Anfield outfit last week but it once again reminded fans of just how badly Dejan Lovren, Mamadou Sakho and more can defend.
But, in beating Manchester City at the weekend, Claudio Ranieri's men may have given Liverpool a big boost.
Serious weaknesses were exposed at the Etihad - with a major final coming up at the end of the month...
Manchester City don't look like a team for the big occasion. Manuel Pellegrini simply allowed Leicester to play their game on Saturday - not making any sort of changes whatsoever to try and counter the Foxes.
But it wasn't just that - which most teams in the Premier League are guilty of anyway. City's players simply gave in. From the opening minutes, they didn't look interested.
If that's how they treat a potentially decisive match in the title race, Liverpool have real hope in the Capital One Cup final.
The Reds themselves are in very poor form. But so, by the looks of it, are City. At home, Manchester City are a different animal. The final, however, is more like an away game for both sides - and Pellegrini's men have been truly awful away from home.
Admittedly, Man City have a great record at Wembley and are still heavy favourites. But a mentally weak City side who aren't up for the occasion will play right into Liverpool's hands. Jurgen Klopp can try and sting them just like he did at the Etihad earlier this campaign.
And even a poor game could work for Liverpool - just as it did against out-of-form Stoke City in the semi-final.