The 1988–89 season was the 97th season in LFC's existence, and was their 26th consecutive year in the First Division.

The season was overshadowed by the Hillsborough Disaster on 15 April 1989.

Liverpool won the rescheduled FA Cup semi-final and went on to win the trophy by beating Everton 3-2 in the final, but were then denied the double for the second season running in even more dramatic fashion than the previous season, when a last minute Arsenal goal gave the visitors a 2-0 win at Anfield and sent the league title to Highbury on goals scored.