The Reds lost 3-1 to La Liga giants Real Madrid in the Champions League final in Kiev back in May to miss out on a first trophy under Jurgen Klopp.
Liverpool FC have strengthened their squad in the 2018 summer transfer window following the arrival of Fabinho, Naby Keita, Xherdan Shaqiri and Alisson Becker.
The Merseyside outfit won their opening five Premier League fixtures to lay down a marker in the title race.
Jurgen Klopp’s side edged to a 3-2 win against Ligue 1 giants Paris Saint-Germain in their opening Champions League fixture to make a perfect start to the group stage.
Substitute Roberto Firmino netted an added time winner to secure three points after Daniel Sturridge and James Milner scored in the first half at Anfield.
Former Manchester United defender Ferdinand believes the Reds are contenders to get their hands on the Champions League title.
“It looks like it,” Ferdinand told BT Sport. “They are doing very well.”
Liverpool FC finished in fourth place in the Premier League table last term to secure a spot in the Champions League.
The Reds won the Champions League title in 2005 thanks to a penalty shootout victory over AC Milan.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news