The Foxes have been one of the surprise packages of the top-flight season and currently lead the way at the top of the table heading into the final 15 games of the campaign.
Liverpool, meanwhile, have struggled to find consistent form this season and currently find themselves in seventh place in the top flight table.
The Reds were 1-0 winners when the two sides last met at Anfield earlier in the campaign.
But former Arsenal man Merson is expecting to see Claudio Ranieiri’s men claim victory over the Reds on Tuesday night.
Merson told Sky Sports: “The next three games define them [Leicester]. If they win all three they will be Premier League champions. If they lose all three they will be fighting to stay in the top-four. If you are not talking about winning it surely that makes you lackadaisical and it makes you think you’ve got a free swing at it. It’s not a free swing. We are 23 games in, not five.
“However, I see them winning this game. They can beat Liverpool, who I think are a bit all over the shop at the moment. I’m going for a 2-1 home win and I’m also backing Jamie Vardy to be first goal-scorer. I just cannot see how Liverpool will cope with Vardy.”
Liverpool, who finished sixth last season, head into the game after being held to a goalless draw by West Ham United in the fourth round of the FA Cup at Anfield on Saturday afternoon.
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