The Spurs captain has missed the last four games with a hamstring problem he picked up in the 4-0 thrashing at Chelsea over a fortnight ago.
Fellow centre-back Vlad Chiriches, who has been sidelined with a back problem since January, also returned to training on Tuesday but is unlikely to feature in the game at Anfield, which is live on Sky Sports 1HD from 3.30pm.
Spurs boss Tim Sherwood said: "Vlad has been out for a while and we have to make sure we take our time with him.
"He's trained well and he hasn't felt any reaction to his back. We're pleased to see him back and we're looking to drop him back into Friday's Under-21 game against Arsenal at White Hart Lane.
"Michael trained at the end of last week as well, we're pleased with his progress and most of all, delighted we've more players from to select from."
Fifth-placed Tottenham are looking to take points off Liverpool in the hope of claiming a UEFA Champions League spot but they have only won once at Anfield in 16 years.
They will also be hoping Emmanuel Adebayor can shake off the ankle problem that kept him out of Sunday's win over Southampton, but Kyle Walker (pelvis), Etienne Capoue (ankle) and Erik Lamela (back) are still out.