The Reds were placed in Group B, which also includes Salzburg and Genk, when Friday's (AEST) draw was made in Monaco.
Inter's return to the Champions League saw them placed along with Barcelona and Borussia Dortmund in a daunting Group F, which also includes Slavia Prague.
Meanwhile, Real Madrid's bid to recapture its crown will see Zinedine Zidane's men take on Ligue 1 champions Paris Saint-Germain, as well as Club Brugge and Galatasaray.
Champions League group stage draw in full:
Group A: Paris Saint-Germain, Real Madrid, Club Brugge, Galatasaray
Group B: Bayern Munich, Tottenham, Olympiacos, Red Star Belgrade
Group C: Manchester City, Shakhtar Donetsk, Dinamo, Atalanta
Group D: Juventus, Atletico Madrid, Bayer Leverkusen, Lokomotiv Moscow
Group E: Liverpool, Napoli, Salzburg, Genk
Group F: Barcelona, Borussia Dortmund, Inter, Slavia Prague
Group G: Zenit, Benfica, Lyon, RB Leipzig
Group H: Chelsea, Ajax, Valencia, Lille