The Reds booked their place in the Champions League last-four draw on Tuesday night thanks to a thrilling 5-1 aggregate win against Manchester City.
Liverpool FC were 3-0 winners in the first leg at Anfield thanks to goals from Alex Oxlade-Chamberlain, Mohamed Salah and Roberto Firmino.
The Reds lost 5-0 at Manchester City in the Premier League back in September to prompt many pundits to suggest a Citizens comeback was plausible.
Klopp’s men conceded in the second minute to offer Manchester City the incentive before Salah and Firmino scored in the second half to secure a 2-1 win.
Real Madrid needed a 95th minute Cristiano Ronaldo penalty to secure a place in the Champions League last four after a 3-1 win against Juventus at The Bernabeu.
Los Blancos have won the competition in the last two seasons, although Real Madrid have struggled domestically this term.
Former Arsenal defender Keown believes Liverpool FC would rather face Bayern Munich or AS Roma rather than Real Madrid in the Champions League semi-finals.
“Real Madrid would be the worst-case scenario. They have won three of the last four Champions Leagues and are the benchmark for European football now,” Keown told the Daily Mail.
“The only crumb of comfort Liverpool could take if they drew Real is the benefit of facing them at Anfield.
“Real have shown they are the masters of finals.
“Their core of players has changed little in their Champions League winning run: Sergio Ramos, Toni Kroos, Luka Modric, Cristiano Ronaldo, they all know how to win this trophy. Liverpool don’t have that same level of experience.
“Seven players who started the Europa League final are still at the club, but that just isn’t the same.”
Liverpool FC are in third place in the Premier League table in their bid to finish in the top four in successive seasons.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news