Liverpool had won just the once in their last 20 visits to the Emirates going into the clash but were facing a weakened Arsenal defence missing Mertesacker, Gabriel and Koscielny.
Reds boss Jurgen Klopp did not give Emre Can a starting role but did bring him on in the second half.
The other Germany intentional of Turkish origin was not included in the Arsenal match day squad despite Arsene Wenger naming him in the provisional team.
The Gunners got off to a great start from Theo Walcott missed a first half penalty only to make up for his miss minutes later when he scored the first of seven goals.
Coutinho equalised against the run of play just before the half-times whistle with a brilliant free-kick effort.
Liverpool came out the blocks firing in the second half. Lallana put the away side ahead on 49 minutes and Coutinho bagged his brace minutes laters.
Mane scored arguably the goal of the game with a brilliant solo effort on 63 minutes.
Just when Liverpool looked destined to go on and rack up a cricket score Arsenal got right back into the game with a goal from Chamberlain a minute later.
Chambers reduced the Reds lead to just one-goal 10 minutes later but it proved to be too little too late.
Arsenal v Liverpool
Kick-Off: 16:00 GMT
Arsenal confirmed starting lineup:
Cech; Bellerin, Holding, Chambers, Monreal; Elneny, Coquelin; Iwobi, Ramsey, Walcott; Sanchez
Subs: Ospina, Gibbs, Wilshere, Xhaka, Cazorla, Chamberlain, Akpom
Manager: Arsene Wenger
Liverpool Confirmed starting lineup:
Mignolet, Clyne, Lovren, Klavan, Moreno, Wijnaldum, Henderson, Lallana, Coutinho, Mane, Firmino
Subs: Manninger, Can, Origi, Matip, Alexander-Arnold, Stewart, Grujic
Manager: Jurgen Klopp
Goals: 31′ Walcott, 45′ Coutinho, 49′ Lallana, 56′ Coutinho, 63′ Mane, 64′ Chamberlain, 75′ Chambers