Jordan Henderson could return from a knee injury before the end of the season, according to manager Jurgen Klopp.
The England midfielder damaged his lateral collateral ligament (LCL) in the Europa League quarter-final with Borussia Dortmund on Thursday.
He was understood to be facing up to eight weeks on the sidelines, casting doubt over his inclusion in England's squad for the European Championships in June.
But Klopp said on Saturday: "It's serious but it's not that serious that there is not hope for us for maybe the last one or two games.
"It's also clear there is still hope for the European Championships.
"For us he is a very important player who has been getting better and better. But he's an important player for England too, so there is no final judgement that there is no chance.
"There is a chance. It's isolated, nothing else. It's not good news but it's part of something like good news. We will do everything to get him back in the race as soon as possible. Each day we will see what we can do.
"Of course we have supported him. We heard about it at half-time, that it was more serious, so we fight for him. He was injured in a situation fighting for us."
Liverpool host Stoke City on Sunday with the chance to go above their opponents in the Premier League table, and Klopp says he will make changes to his starting line-up after Thursday's 1-1 draw in Germany.
"We have no time for rest. That's the situation but we have to think about a few changes. We have training at 5pm, and we will see who looks how, and make decisions," he added.
"It's not about resting. It's about having the best line-up for Stoke. Everyone can see they have had a very good season and they are two points ahead. With three points we can get them, which will be important for us."