Arsenal found themselves 2-0 down shortly after half-time after goals from Philippe Coutinho and Mohamed Salah had put the Merseyside outfit in control at The Emirates.
However, Arsenal battled back and three quick-fire goals from Alexis Sanchez, Granit Xhaka and Mesut Ozil put Arsene Wenger’s men 3-2 up.
But it was Liverpool FC who had the final say, with Roberto Firmino netting an equaliser for Jurgen Klopp’s men to earn a point for the visitors.
Ozil showed excellent composure to dink the ball over the on-rushing Simon Mignolet to net Arsenal’s third goal.
And former Liverpool FC defender Carragher was clearly impressed by the Germany international’s finish.
Speaking during Sky Sports‘ coverage of the game, Carragher said: “The roof came off this place [when Ozil scored Arsenal’s third goal].
“We’ve questioned Ozil and Sanchez… what a finish! Coolness personified from Ozil. He dinks [it over] the goalkeeper.”
The result left Liverpool FC in fourth place in the Premier League table and one point ahead of Arsenal over Christmas.
The Gunners are next in Premier League action on 28 December, when they take on Crystal Palace at Selhurst Park.
Ozil has scored four goals and made five assists in all competitions for Arsenal so far this season.
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