First-choice goalkeeper Reina has missed the Reds' last two games with a calf problem while veteran defender Carragher was ruled out of the defeat at Southampton earlier this month with a shin injury.
Reina has since been on the bench for Spain's internationals against Finland last week and France on Tuesday.
First-team coach Mike Marsh told the club's website: "They're both available for selection, so it's a possibility."
Liverpool have reported no fresh injury concerns following the latest round of international fixtures.
Marsh said: "We seem to have come through unscathed.
"We've got one or two players missing who are flying back from international duty.
"They will arrive back tomorrow, they will still be in recovery and hopefully they will train on Friday."