The Merseyside giants are unbeaten in all competitions this season and are visiting Old Trafford on the back of a scintillating run of form.
Mohamed Salah has scored in each of his last nine appearances and has been touted as the best player in the world at present.
Manchester United have just a point from their last three league games and needed a second-half rescue act to beat a weakened Atalanta in the Champions League on Wednesday night.
Liverpool are the favourites to get a win at Old Trafford, but Thompson stressed that he would be more than happy with a point.
He believes that given the stature of the game, a draw could feel like a win for Liverpool this weekend.
The Liverpool legend said on LFC TV: “I could quite easily sit here and say that Liverpool will win.
“[But] I would take a draw now.
“I think it is going to be that big a game and that will still feel like a win.”
Liverpool hold a four-point lead over Manchester United in the Premier League and victory would establish a seven-point cushion.
