Simon Mignolet saved Jamie Vardy's penalty to save Liverpool from dropping points at Leicester.
The Belgian shot stopper redeemed himself after he had taken down the England hot shot, before blocking away Vardy's powerful spot kick.
Mo Salah had opened the scoring by heading in a head from a tight angle.
Philippe Coutinho curled in his first goal of the season - the Brazilian perfectly whipped his 25-yard free kick into the top corner a month after handing in a transfer request at the Reds.
Shinji Okazaki grabbed one back on the brink of half time after poor defending from Liverpool.
Jordan Henderson and Vardy exchanged goals before the Foxes' frontman saw his penalty saved by Mignolet.
Leicester XI: Schmeichel, Simpson, Morgan, Maguire, Chilwell, Albrighton, Ndidi, King, Mahrez, Vardy, Okazaki
Subs: Hamer, Iheanacho, Amartey, Gray, Iborra, Slimani, Fuchs
Liverpool XI: Mignolet, Gomez, Matip, Lovren, Moreno, Wijnaldum, Henderson, Can, Salah, Coutinho, Firmino
Subs: Karius, Milner, Sturridge, Klavan, Oxlade-Chamberlain, Solanke, Alexander-Arnold
Jamie Vardy penalty
Oh Jamie Vardy!
You went for power, but that was your undoing.
Leicester should be taking a point away from this one.
But it looks like an uphill struggle after his penalty save.
Shinji Okazaki's goal
Why can’t Liverpool defend set pieces?
More than a hint of a foul on Mignolet from the corner.
But Okazaki poked in to set up a tense second half.
Philippe Coutinho
It is all about the way you place it...
Cristiano Ronaldo always liked to hit the valve to get his trademark swerve.
Coutinho looks just as particular about how he hits the ball.
Whatever he does, it works!
Philippe Coutinho's free kick
Unstoppable.
Coutinho’s free kick was supreme, curling into the top corner from 25-yards.
The Brazilian might have handed in a transfer request this summer but his celebrations show how much Liverpool still means to him.
Mo Salah's goal
Excellent neck muscles from Salah to get this in.
The angle kept going away from him but he just got his head to the ball in time.
Top start from Liverpool.
Happy Liverpool
Jurgen Klopp out?
Of course not, they are dominant at the King Power today.
Salah’s tight angled header and Coutinho’s stunning free kick has moved them into a commanding lead.
Early action
Liverpool had been the better team just about before opening the scoring.
Can hit the post for them, before a horror miss by Salah.
Salah then made up for it.
At the other end Vardy should have scored when one-on-one and Okazaki has had two decent chances.
Leicester warm up
Looks more feisty on the Foxes’ side of the pitch.
Liverpool will be hoping a foot that high will mean a red card after Mane’s dismissal earlier this month.
Okazaki is leading the line with Vardy this evening - can they capitalise on the Reds’ shaky back line?
Liverpool warming up
Liverpool are going through their paces in the warm up.
Here is Jordan Henderson.
He is back in Klopp’s team having missed out last weekend against Burnley.
Fans arriving
Leicester fans are starting to stream into the King Power Stadium.
They’ll feel confident as well.
The Foxes have won the last three meetings against Liverpool at the ground.
Most recently they knocked the Reds out the Carabao Cup on Tuesday with a 2-0 victory.
Leicester team news
Vardy overcomes a groin injury to start.
Liverpool team news
5 changes from Jurgen Klopp.
Early team news
Jamie Vardy is expected to return to the Leicester squad for the Premier League visit of Liverpool.
Vardy missed the Carabao Cup game against Jurgen Klopp’s team on Tuesday night with a groin injury but he has resumed training and will be back in contention should he suffer no ill effects.
Fellow striker Leonardo Ulloa suffered a head injury against Liverpool in midweek but is fine and Christian Fuchs is fit again after his recent eye problem. However, midfielder Matty James is out for between four and six weeks with the Achilles injury he sustained against Chelsea.
Liverpool defender Dejan Lovren is unlikely to feature at Leicester as he has not trained this week because of the back injury which forced him to sit out their last two matches.
Fellow centre-back Joel Matip is also a doubt as he is carrying a knock from last weekend’s draw with Burnley.
Midfielder Emre Can returned to training on Thursday after recovering from a minor injury while forward Sadio Mane serves the final match of his suspension.