League Cup Preview: Liverpool v Swansea
Monk, who was club captain when Swansea won the competition in 2013, will take his team to Merseyside on Tuesday with a spring in their step following a 2-0 win over Leicester City at the weekend.
That victory lifted the Welsh club into sixth place in the Premier League, and was a welcome tonic following a run of five top-flight games without a win.
Swansea triumphed 3-1 at Anfield en route to winning the League Cup two seasons ago, and Monk cannot wait to visit the famous ground again.
"It's one that we're really excited about - we go up there with nothing to lose," he said.
"Anfield's always a special place to play and we did well in the cup game that we played there before.
"Hopefully we can take that sort of performance (versus Leicester) up there, but it's one that we'll go up and enjoy.
"Liverpool will obviously be favourites, but hopefully we can put a performance on that will make everyone proud.
"We have to take it [the League Cup] seriously. It's a cup that we've done very well in in the past, having won it in recent history, and it's one that we'd like to do well in again."
Swansea knocked Liverpool's local rivals Everton out in the last round and go into the game with striker Wilfried Bony bang in form after four goals in his last three games.
Jonjo Shelvey could come up against his former club, who are managed by ex-Swansea boss Brendan Rodgers.
Liverpool are behind Swansea on goal difference alone in the Premier League, but head into the tie after a difficult week that saw them lose 3-0 to Real Madrid in the UEFA Champions League before being held to a 0-0 stalemate by Hull City.
Much has been made of Liverpool's defensive vulnerability this season, with the clean sheet against Hull representing only their second shutout in 13 outings in all competitions.
Rodgers' side progressed to round four of the League Cup courtesy of a mammoth penalty shootout win over Middlesbrough, which ended 14-13 in their favour, and history is on their side in this fixture.
In 19 meetings with Swansea at Anfield, Liverpool have lost just twice.