The Reds booked their place in the Europa League quarter-final draw on Thursday night after a 1-1 draw with Manchester United at Old Trafford.
Liverpool are unbeaten in all competitions since their League Cup penalty shootout final defeat at Wembley in February.
The Reds are in eighth place and seven points behind Manchester City, who occupy the final Champions League qualifying spot but have played one game more than the Merseyside outfit.
Former Liverpool midfielder Hamann, who was part of the Reds side that won the Champions League in 2005, explained why Jurgen Klopp’s side shouldn’t give up in the race to finish in fourth place.
“There is a lot to play for,” Hamann told ITV Sport.
“There are eight or nine games left in the league. There is an outside chance to finish in the top four. There is the back door of the Europa League to get into the Champions League.
“If they carry on like they’ve done in the last few weeks, I’m very hopeful.”
Liverpool have beaten Manchester City, Manchester United over two legs, Crystal Palace in their last four games.
Klopp was appointed as Liverpool manager after the Reds sacked Brendan Rodgers in October.
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