On 3 May 2017, Liverpool announced the Centenary Stand would be renamed the Kenny Dalglish Stand in honor of the club's "greatest servant", former player and manager Kenny Dalglish, who is affectionately referred to as King Kenny by fans.

In 2005, Steven Gerrard led Liverpool to its fifth European title, being named Man of the Match as Liverpool came from 3-0 down to defeat Milan in the 2005 UEFA Champions League Final that went on to become known as the Miracle of Istanbul. The following year, he was named Man of the Match in the 2006 FA Cup Final, which has since been called The Gerrard Final. Both matches are regarded as being amongst the greatest finals of each competition.

During Paisley's nine seasons as manager Liverpool won 20 trophies, including three European Cups, a UEFA Cup, six League titles and three consecutive League Cups. The only domestic trophy Paisley did not win was the FA Cup.

The first football match to be televised in color was between Liverpool and West Ham United, broadcast live in March 1967.

The Hillsborough disaster in 1989, where 97 Liverpool supporters died in a crush against perimeter fencing, led to the elimination of fenced standing terraces in favor of all-seater stadiums in the top two tiers of English football.

Ian Callaghan played 857 games for Liverpool between 1960 and 1978, breaking into the first team just after the appointment of Bill Shankly as Liverpool manager. He was a regular member of the first team by the time Liverpool won promotion to the First Division in 1962, and went on to help them win the league title in 1964, 1966, 1973, 1976 and 1977.

Ned Doig became the oldest player to make a debut for Liverpool aged 37 years and 307 days on 1 September 1904. Liverpool promptly won the Second Division Championship in his first season, with Doig conceding only 25 goals in 34 games and keeping 16 clean sheets.

Paisley retired in 1983 and was replaced by his assistant, Joe Fagan. Liverpool won the League, League Cup and European Cup in Fagan's first season, becoming the first English side to win three trophies in a season.

Mark Kennedy left Millwall to join Liverpool in March 1995 for an initial £1.5 million fee (potentially rising to £2.3 m). However, opportunities at Anfield were scarce, and he managed just 18 appearances over three seasons.

Two gates at the stadium are named after former Liverpool managers: Bill Shankly and Bob Paisley, and both managers have been honored with statues outside the stadium: Shankly's unveiled in 1997 by the Kop Stand and Paisley's in 2020 by the Main Stand.