Arsenal, a perennial top-four side, visit a club which, until last season, occupied a similarly lofty perch.
A seventh-placed finish, no Champions League, a change of manager - and possibly a change of owner - may have altered perceptions outside Anfield's walls.
However, that has little bearing on how Hodgson views his first season in charge, having taken over from Rafael Benitez at the start of July.
"There are always expectations. Who knows what's realistic? In every league there are surprises every year," said the 62-year-old.
"I've been feeling pressure for the last 35 years - since January 1 1976 - I think that is part of the job.
"You could argue Halmstad and Liverpool are not to be mentioned in the same breath but that is not what I thought about it at 29 years of age.
"I felt a lot of pressure on me to get good results for the team and I feel pressure on me now and I think the day when I don't feel pressure any more is the day when I've outgrown the job.
"The experienced players and coaching staff here know we cannot do anything about expectations being thrust at us.
"All we can do is try to prepare each week to play a good game of football and try to win it."
Because of the ramifications of the previous campaign, and the fact big-spending Manchester City, Tottenham, Aston Villa and Everton have all closed the gap, much has been made of the importance of this season.
However, Hodgson dismissed the suggestion it was a hugely significant year for the club.
"Every time I drive in I see the year 1892 (the year Liverpool were formed)," he said.
"In two years' time it will be the 110-year jubilee and so I won't get involved in discussions about whether this season is pivotal.
"I will take the long-term 110-year view; there will be plenty more games and titles to win but when I don't know."
The minimum target is to get back into the top four; any thoughts of a title challenge like the one in the 2008/9 season cannot be considered until the latter stages of the campaign.
Hodgson admits he is at a disadvantage to the rest of his 'big four' rivals, who have all had experience of winning the Premier League.
"This is a very strange pre-season because so little of it has been spent with the team who will play against Arsenal and so much has been spent with players who are not even training here at Melwood any longer," said the former Fulham boss.
"I've had seven training sessions with what I regard as the key players.
"It is pretty obvious we are a long way from where teams like Manchester United, Arsenal and Chelsea are as they have been working under the same coach for at least one year if not tens of years.
"It would be ridiculous to suggest that after seven training sessions we would be at the top of our game or anything like the team I hope we are going to be together.
"Everyone is working very hard at their game and trying to make sure we become a team, not just a group of very talented individuals.
"I never make any predictions on what the club is going to do, only that it will be our best.
"I would be very disappointed if, at the end of the season, the fans said we did not try hard.
"We have some talented players and we are a big club so we would hope, if everything falls into place, it will make a good season but what is a good season I'll let the football matches decide."
Striker Fernando Torres could start tomorrow after Hodgson reported he had made excellent progress from the adductor strain he sustained in the World Cup final.
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