The Reds head into the game on the back of their incredible 4-0 victory over FC Barcelona at Anfield on Tuesday night as they booked their place in the Champions League final for the second successive season.
Liverpool FC are currently in second place in the Premier League table and a point behind Manchester City heading into the final round of fixtures.
The Merseyside outfit are hoping that Manchester City will drop points away to Brighton to allow them the chance to lift the Premier League trophy for the first time on Sunday afternoon.
And former Liverpool FC star Lawrenson is backing the Reds to claim all three points with a 2-0 win over Wolves on Sunday afternoon.
Writing in his column for BBC Sport, Lawrenson said: “I am back at Anfield again on Sunday after watching Liverpool’s amazing victory over Barcelona on Tuesday and, whatever happens this time, there is no way the atmosphere will feel flat.
“Liverpool need to win to have any hope of winning the title, and hope City slip up, but even the first bit of that task is tough because Wolves are a good side, and they have got a goal threat.
“But, even if City are winning comfortably at Brighton, Anfield will still be buzzing because the Reds fans have got the Champions League final to look forward to.
“Wolves will give them a good game but, just like with City, I have seen enough of Liverpool recently to know that if they need a goal, they will get one.
“Jurgen Klopp’s side have had an absolutely brilliant season and all they can do to on Sunday is win. If they do that and finish second with 97 points then they cannot really do much more.”
Liverpool FC will take on Tottenham Hotspur in the Champions League final in Madrid on 1 June.
The Reds will be hoping to end the campaign on a high by beating Tottenham to lift the trophy after they lost 3-1 to Real Madrid in the showpiece last season.
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