That is the opinion of Sky Sports pundit and former Liverpool defender Jamie Carragher.
Vardy is serving the third and final game of his suspension after being sent off against Wolves last month.
The 31-year-old was shown a straight red card for a tackle on Wolves defender Matt Doherty.
Liverpool have won all three of their games so far this season and are yet to concede a goal.
Leicester have also had a good start to the campaign, beating Wolves and Southampton following the opening day loss to Manchester United.
However, Carragher believes the absence of Vardy is key and can see Liverpool making it four out of four.
“I think Liverpool have to fancy their chances, the form that they’re in,” Carragher said.
“Not so much the form, I don’t think they played as well as they can against Brighton.
“But certainly the results they’ve had, Leicester have had great results.
“I just think Jamie Vardy being out is such a big thing.
“I think whenever you play Leicester, you think of Jamie Vardy.
“Liverpool, no matter where they go, more often than not have a lot of possession.
“So the way to counteract that is to counter attack Liverpool.
“He’s just a great weapon for that and I do think they miss something Leicester when he’s not there.
“I think it will be a really tough game but I can see Liverpool just edging it.”
Liverpool boss Jurgen Klopp has made one change to his starting XI, with Jordan Henderson replacing Naby Keita.