The Yorkshire club are outsiders to progress to the semi-finals of the competition but can boast a decent spell of form that has seen them rise to fifth in the Championship standings.
They will be facing a side who look genuine contenders to win the Premier League and sit second in the top-flight table, having won eight of their last 10 league games.
Leeds have won four from five and there is genuine optimism that they can return to the promised land for the first time since 2004.
Whether or not that happens only time will tell but, of more immediate concern to the former Swansea chief is how to deal with a rampant Reds team on Merseyside.
Monk knows it will be tough but feels his charges have nothing to lose and will give a good account of themselves.
"For sure, we are the underdogs," he told ESPN FC. "I have a very young group and a lot of them won't have experienced Anfield or that type of crowd and atmosphere, or quality of opposition before.
"But for me, it's about them going out and enjoying it because there is no pressure on us whatsoever. We are going there to win the game and we have to go there like that."
"It is good for the young lads to experience all this, but we are not just going there to play at Anfield, to play against Liverpool and look at their players."
Punters looking to use a free bet might fancy Leeds to shock what will be a much-changed Liverpool side on Tuesday night.