Liverpool boss Jurgen Klopp expects Joe Gomez to return from injury in the next four to six weeks.
The England defender underwent surgery on a broken leg on Monday and has not played for the Reds since sustaining the fracture against Burnley in December.
Liverpool boss Klopp said: “Joe’s surgery went pretty well.
“But (it will be) four to six weeks to return to play.
There is likely to be a longer wait for Alex Oxlade-Chamberlain’s return from a serious knee problem, which has sidelined him since April.
The midfielder was included in Liverpool’s Champions League squad list submitted to UEFA this week but will not be available until the later stages, if they get past Bayern Munich in the last-16.
Klopp added: “If we got to the semis of the Champions League again he should be available, quarter-finals maybe.
“We put him in the squad as we think there’s the chance for him to play.”
Klopp also played down the background noise which has surrounded them being usurped by Manchester City at the top of the table in midweek.
He added: “I got a message this week, another sign that people think I need help – I don’t need help, I’m fine – but it said in the last 10 games, City dropped 12 points and we dropped seven.
“Is it interesting for me? Not really, but obviously the view from outside is completely different.”
Liverpool announced record pre-tax profits of £125million in the annual accounts on Friday.
But Klopp said that did not mean fans should expect another spending spree in the summer.
“I’m not a massive numbers guy, but Mike Gordon (president of Liverpool’s owners Fenway Sports Group) is in today and he didn’t jump on me this morning and say, ‘the numbers are fantastic, come on let’s go and spend all the money!’” said the Reds boss.
“I know about what we did. We didn’t only earn a lot, we spent a lot in the last couple of years.
“It was always clear we had to change things for the better. That’s what we did with different things.
“We built a really strong squad – unfortunately we have a lot of it unavailable at the moment – but it’s a squad built for the future and not only this season.
“That’s fine, I hope we don’t need too much money in the next years, because if you have the right players in, work with them.”