Liverpool won a penalty shootout against Stoke City at Anfield to reach the Capital One Cup final as manager Jurgen Klopp ensured his first season in charge will bring a trip to Wembley.
Marko Arnautovic scored for Stoke to claw back Liverpool's one-goal advantage from the first leg - but it was agony for Mark Hughes' side when it came to spot-kicks.
Much-criticised Liverpool goalkeeper Simon Mignolet was Liverpool's hero with saves from Peter Crouch and Marc Muniesa, allowing substitute Joe Allen to step forward to secure a meeting with either Manchester City or neighbours Everton at Wembley on 28 February.
A tight encounter was sent to penalties by Arnautovic's goal, seemingly scored from an offside position, in first-half stoppage time.
Jon Walters, Glenn Whelan, Ibrahim Affelay, Xherdan Shaqiri and Marco van Ginkel were all on target for Stoke, while Adam Lallana, Christian Benteke, Roberto Firmino, James Milner and Lucas were successful for Liverpool - before Allen settled matters to send Anfield wild in celebration.
Jurgen Klopp has endured mixed fortunes since his appointment as Liverpool manager in early October - but now he has the chance to smooth an inevitable period of transition with success.
Some may not regard the League Cup as the biggest domestic prize, but it gives the charismatic German the opportunity to cement his reputation with silverware and also give the Reds their first trophy since they won this competition under Kenny Dalglish against Cardiff City in 2012.
He would also be following the example of Jose Mourinho at Chelsea and Manuel Pellegrini at Manchester City, who each won this trophy during their first season as a manager in England.
Klopp is no stranger to Wembley having led Borussia Dortmund to Champions League final at the stadium in 2013, though they were defeated by Bundesliga rivals Bayern Munich.
Liverpool keeper Simon Mignolet has often been the villain of the piece in a season of uncertain form - but here he was the hero with vital penalty saves from Crouch and Muniesa.
The Belgian's Achilles heel is his decision-making, and there were some raised eyebrows when he was given a new five-year contract earlier this month.
Mignolet rewarded the faith of Klopp, who has been steadfast in his support of the keeper, with the most significant interventions here and will hope to build on this dramatic revival of his fortunes.
A banner fluttering in the Anfield Road End among the massed ranks of Stoke fans called on their players to summon "The Spirit Of 72" - when they secured their first and last major trophy with a League Cup final win over Chelsea at Wembley.
And for spells after Arnautovic's goal, it looked like they would get the chance to join the ranks of heroes such as Gordon Banks and George Eastham as they took the fight to Liverpool with this semi-final second leg delicately poised.
Hughes must have been almost as exhausted as his players at the painful conclusion, contesting every decision and urging his men on for 120 minutes.
Sadly for the Potters and their thousands of fans, it was not to be - but the mature performance they gave in winning at Anfield, their first victory here since 1959, was another indicator of their growing maturity despite the disappointment of defeat.
Liverpool manager Jurgen Klopp:
"It was great, the atmosphere was special. It was a good game for my side against a difficult side to play.
"They changed their style today. It was keeper Jack Butland to Peter Crouch so it was difficult to defend. We had a few problems, but they didn't have too many opportunities.
"Their goal was double offside but, in the end, we had luck in the penalty shootout. Over the whole 120 minutes, the players, crowd and Liverpool deserved it.
"Wembley is a cool place to play football... but we go there to win. It's not much fun to lose."
Stoke manager Mark Hughes:
"I thought we were by far the better team. We were behind in the tie and I'm proud of what the players produced.
"Nobody gave us a chance - why they would do that I don't know. We've proved for a couple of years that we're a good team. I think Liverpool were delighted to go to penalties and then it's a lottery.
"We got a win on paper - goodness knows how long it's been since we won here - but the objective was to get to a Wembley final which we didn't."
Jon Walters (Stoke) scores 0-1
Adam Lallana (Liverpool) scores 1-1
Peter Crouch (Stoke) saved 1-1
Emre Can (Liverpool) hits post 1-1
Glenn Whelan (Stoke) scores 1-2
Christian Benteke (Liverpool) scores 2-2
Ibrahim Afellay (Stoke) scores 2-3
Roberto Firmino (Liverpool) scores 3-3
Xherdan Shaqiri (Stoke) scores 3-4
James Milner (Liverpool) scores 4-4
Marco van Ginkel (Stoke) scores 4-5
Lucas Leiva (Liverpool) scores 5-5
Marc Muniesa (Stoke) saved 5-5
Joe Allen (Liverpool) scores 6-5
Liverpool host West Ham in the FA Cup at home on Saturday, and Stoke are away at Crystal Palace in the same competition.
Full Time Match ends, Liverpool 0(6), Stoke City 1(5).
120:00 +8:13Penalty Shootout ends, Liverpool 0(6), Stoke City 1(5).
120:00 +7:58 Goal scoredGoal! Goal! Liverpool 0(6), Stoke City 1(5). Joe Allen (Liverpool) converts the penalty with a right footed shot to the top right corner.
120:00 +7:16Penalty saved! Marc Muniesa (Stoke City) fails to capitalise on this great opportunity, left footed shot saved in the bottom right corner.
120:00 +6:34 Goal scoredGoal! Goal! Liverpool 0(5), Stoke City 1(5). Lucas Leiva (Liverpool) converts the penalty with a right footed shot to the top right corner.
120:00 +5:57 Goal scoredGoal! Goal! Liverpool 0(4), Stoke City 1(5). Marco Van Ginkel (Stoke City) converts the penalty with a right footed shot to the bottom right corner.
120:00 +5:28 Goal scoredGoal! Goal! Liverpool 0(4), Stoke City 1(4). James Milner (Liverpool) converts the penalty with a right footed shot to the bottom right corner.
120:00 +4:58 Goal scoredGoal! Goal! Liverpool 0(3), Stoke City 1(4). Xherdan Shaqiri (Stoke City) converts the penalty with a left footed shot to the bottom left corner.
120:00 +4:25 Goal scoredGoal! Goal! Liverpool 0(3), Stoke City 1(3). Roberto Firmino (Liverpool) converts the penalty with a right footed shot to the bottom right corner.
120:00 +3:50 Goal scoredGoal! Goal! Liverpool 0(2), Stoke City 1(3). Ibrahim Afellay (Stoke City) converts the penalty with a right footed shot to the top left corner.
120:00 +3:22 Goal scoredGoal! Goal! Liverpool 0(2), Stoke City 1(2). Christian Benteke (Liverpool) converts the penalty with a right footed shot to the bottom left corner.
120:00 +2:43 Goal scoredGoal! Goal! Liverpool 0(1), Stoke City 1(2). Glenn Whelan (Stoke City) converts the penalty with a right footed shot to the bottom right corner.
120:00 +2:02Penalty missed! Still Liverpool 0(1), Stoke City 1(1). Emre Can (Liverpool) hits the left post with a right footed shot.
120:00 +1:25Penalty saved! Peter Crouch (Stoke City) fails to capitalise on this great opportunity, right footed shot saved in the bottom left corner.
120:00 +0:51 Goal scoredGoal! Goal! Liverpool 0(1), Stoke City 1(1). Adam Lallana (Liverpool) converts the penalty with a right footed shot to the high centre of the goal.
120:00 +0:19 Goal scoredGoal! Goal! Liverpool 0, Stoke City 1(1). Jonathan Walters (Stoke City) converts the penalty with a right footed shot to the top right corner.
120:00 Penalty shootoutPenalty Shootout begins Liverpool 0, Stoke City 1.
120:00 +0:32Second Half Extra Time ends, Liverpool 0, Stoke City 1.
119:46Foul by Joe Allen (Liverpool).
119:46Glenn Whelan (Stoke City) wins a free kick in the defensive half.
Attempt blocked. Alberto Moreno (Liverpool) left footed shot from outside the box is blocked.
118:19Corner, Liverpool. Conceded by Philipp Wollscheid.
114:50Attempt missed. Jordon Ibe (Liverpool) left footed shot from the right side of the box is too high. Assisted by Joe Allen.
113:50Attempt saved. Marco Van Ginkel (Stoke City) right footed shot from the centre of the box is saved in the centre of the goal. Assisted by Peter Crouch with a headed pass.
113:11Attempt blocked. Peter Crouch (Stoke City) left footed shot from the centre of the box is blocked. Assisted by Erik Pieters.
106:58Roberto Firmino (Liverpool) wins a free kick in the defensive half.
106:58Foul by Glenn Whelan (Stoke City).
106:25Foul by Joe Allen (Liverpool).
106:25Philipp Wollscheid (Stoke City) wins a free kick in the defensive half.
106:02Emre Can (Liverpool) wins a free kick in the defensive half.
106:02Foul by Peter Crouch (Stoke City).
105:00Second Half Extra Time begins Liverpool 0, Stoke City 1.
105:00 SubstitutionSubstitution Substitution, Liverpool. Jordon Ibe replaces Jon Flanagan.
106:04First Half Extra Time ends, Liverpool 0, Stoke City 1.
105:46Offside, Liverpool. Alberto Moreno tries a through ball, but Christian Benteke is caught offside.
103:43Marco Van Ginkel (Stoke City) hits the right post with a right footed shot from the centre of the box. Assisted by Peter Crouch with a headed pass.
102:18Jon Flanagan (Liverpool) wins a free kick in the defensive half.
102:18Foul by Peter Crouch (Stoke City).
101:18Foul by Lucas Leiva (Liverpool).
101:18Peter Crouch (Stoke City) wins a free kick in the defensive half.
97:48Delay over. They are ready to continue.
97:47 SubstitutionSubstitution Substitution, Stoke City. Marco Van Ginkel replaces Charlie Adam because of an injury.
96:56Delay in match Charlie Adam (Stoke City) because of an injury.
96:28Foul by Jon Flanagan (Liverpool).
96:28Glenn Whelan (Stoke City) wins a free kick on the left wing.
95:24Foul by Jon Flanagan (Liverpool).
95:24Glenn Whelan (Stoke City) wins a free kick in the defensive half.
93:45Foul by Joe Allen (Liverpool).
93:45Charlie Adam (Stoke City) wins a free kick in the defensive half.
93:05Adam Lallana (Liverpool) wins a free kick on the right wing.
93:05Foul by Erik Pieters (Stoke City).
92:02Attempt missed. Peter Crouch (Stoke City) header from the centre of the box misses to the left. Assisted by Charlie Adam with a cross following a corner.
91:41Corner, Stoke City. Conceded by Lucas Leiva.
90:41Attempt saved. Roberto Firmino (Liverpool) right footed shot from outside the box is saved in the bottom right corner. Assisted by Christian Benteke.
90:00First Half Extra Time begins Liverpool 0, Stoke City 1.
90:00 +4:11 Full timeFull Time Second Half ends, Liverpool 0, Stoke City 1.
90:00 +3:23Emre Can (Liverpool) wins a free kick in the defensive half.
90:00 +3:23Foul by Peter Crouch (Stoke City).
90:00 +2:35Corner, Stoke City. Conceded by Adam Lallana.
90:00 +2:13Corner, Stoke City. Conceded by Adam Lallana.
90:00 +1:20 BookingBooking Joe Allen (Liverpool) is shown the yellow card for a bad foul.
90:00 +1:15Foul by Joe Allen (Liverpool).
90:00 +1:15Ibrahim Afellay (Stoke City) wins a free kick on the right wing.
90:00 +0:42Corner, Liverpool. Conceded by Jonathan Walters.
89:09Foul by Emre Can (Liverpool).
89:09Erik Pieters (Stoke City) wins a free kick in the defensive half.
88:15Offside, Liverpool. Jon Flanagan tries a through ball, but Adam Lallana is caught offside.
87:34Delay over. They are ready to continue.
86:55Delay in match Ibrahim Afellay (Stoke City) because of an injury.
86:33 BookingBooking Jon Flanagan (Liverpool) is shown the yellow card.
85:44Adam Lallana (Liverpool) wins a free kick in the defensive half.
85:44Foul by Erik Pieters (Stoke City).
84:57 SubstitutionSubstitution Substitution, Liverpool. Joe Allen replaces Kolo Touré.
82:57Attempt missed. Roberto Firmino (Liverpool) right footed shot from outside the box is high and wide to the right. Assisted by James Milner.
81:23Mamadou Sakho (Liverpool) wins a free kick in the defensive half.
81:23Foul by Charlie Adam (Stoke City).
79:31Corner, Liverpool. Conceded by Marc Muniesa.
77:17 SubstitutionSubstitution Substitution, Stoke City. Xherdan Shaqiri replaces Marko Arnautovic.
76:23Attempt missed. Glen Johnson (Stoke City) right footed shot from more than 35 yards misses to the left.
74:00Foul by Philipp Wollscheid (Stoke City).
74:00Emre Can (Liverpool) wins a free kick in the defensive half.
73:04Marko Arnautovic (Stoke City) wins a free kick on the left wing.
73:04Foul by Jon Flanagan (Liverpool).
71:47Offside, Stoke City. Jack Butland tries a through ball, but Jonathan Walters is caught offside.
71:19Erik Pieters (Stoke City) wins a free kick in the defensive half.
71:19Foul by Christian Benteke (Liverpool).
70:56 SubstitutionSubstitution Substitution, Stoke City. Charlie Adam replaces Bojan.
68:24Marko Arnautovic (Stoke City) wins a free kick on the left wing.
68:24Foul by Jon Flanagan (Liverpool).
67:27Attempt missed. Mamadou Sakho (Liverpool) header from the centre of the box is high and wide to the left. Assisted by James Milner with a cross following a set piece situation.
66:35Foul by Marko Arnautovic (Stoke City).
66:35Adam Lallana (Liverpool) wins a free kick on the right wing.
65:18Corner, Liverpool. Conceded by Glenn Whelan.
64:44Corner, Liverpool. Conceded by Ibrahim Afellay.
63:36Attempt missed. Adam Lallana (Liverpool) right footed shot from outside the box is close, but misses to the left. Assisted by Mamadou Sakho.
61:06Corner, Stoke City. Conceded by Mamadou Sakho.
61:05Attempt blocked. Jonathan Walters (Stoke City) left footed shot from the left side of the box is blocked. Assisted by Philipp Wollscheid.
60:17Hand ball by Emre Can (Liverpool).
58:49Foul by Jonathan Walters (Stoke City).
58:49Mamadou Sakho (Liverpool) wins a free kick in the defensive half.
57:55 SubstitutionSubstitution Substitution, Liverpool. Christian Benteke replaces Jordan Henderson.
57:13Attempt missed. Glen Johnson (Stoke City) right footed shot from outside the box is too high following a corner.
56:36Corner, Stoke City. Conceded by Simon Mignolet.
55:46Ibrahim Afellay (Stoke City) wins a free kick on the left wing.
55:46Foul by James Milner (Liverpool).
54:59Attempt missed. Marko Arnautovic (Stoke City) right footed shot from outside the box is too high. Assisted by Ibrahim Afellay.
54:32Attempt blocked. Jonathan Walters (Stoke City) right footed shot from the right side of the box is blocked. Assisted by Bojan.
53:55Attempt blocked. Alberto Moreno (Liverpool) left footed shot from outside the box is blocked.
52:06Hand ball by Peter Crouch (Stoke City).
49:37Philipp Wollscheid (Stoke City) wins a free kick in the defensive half.
49:37Foul by Adam Lallana (Liverpool).
47:59Corner, Liverpool. Conceded by Jack Butland.
47:52Attempt saved. Roberto Firmino (Liverpool) right footed shot from the right side of the box is saved in the bottom right corner. Assisted by Jordan Henderson.
46:58Corner, Liverpool. Conceded by Ibrahim Afellay.
45:46Foul by Jonathan Walters (Stoke City).
45:46Alberto Moreno (Liverpool) wins a free kick on the left wing.
45:00Second Half begins Liverpool 0, Stoke City 1.
45:00 +1:43 Half timeHalf Time First Half ends, Liverpool 0, Stoke City 1.
45:00 +0:32 Goal scoredGoal! Goal! Liverpool 0, Stoke City 1. Marko Arnautovic (Stoke City) left footed shot from the centre of the box to the bottom right corner. Assisted by Bojan.
44:39Attempt missed. Ibrahim Afellay (Stoke City) right footed shot from outside the box misses to the left following a set piece situation.
43:53Glen Johnson (Stoke City) wins a free kick on the right wing.
43:53Foul by Emre Can (Liverpool).
42:41Offside, Liverpool. Emre Can tries a through ball, but Roberto Firmino is caught offside.
41:37Attempt missed. Jordan Henderson (Liverpool) right footed shot from outside the box is close, but misses to the left following a set piece situation.
40:53Foul by Marko Arnautovic (Stoke City).
40:53Jon Flanagan (Liverpool) wins a free kick on the right wing.
36:17Foul by Glenn Whelan (Stoke City).
36:17Alberto Moreno (Liverpool) wins a free kick in the defensive half.
35:38Attempt missed. Bojan (Stoke City) header from the centre of the box misses to the right. Assisted by Erik Pieters with a cross following a set piece situation.
34:56Peter Crouch (Stoke City) wins a free kick on the left wing.
34:56Foul by Jordan Henderson (Liverpool).
33:53Attempt missed. Ibrahim Afellay (Stoke City) right footed shot from outside the box is high and wide to the right. Assisted by Peter Crouch.
33:05Attempt missed. Emre Can (Liverpool) right footed shot from outside the box misses to the right. Assisted by Roberto Firmino.
32:55Foul by Bojan (Stoke City).
32:55Alberto Moreno (Liverpool) wins a free kick on the left wing.
28:54Ibrahim Afellay (Stoke City) wins a free kick in the defensive half.
28:54Foul by Lucas Leiva (Liverpool).
25:29Ibrahim Afellay (Stoke City) wins a free kick in the defensive half.
25:29Foul by Jordan Henderson (Liverpool).
24:30 BookingBooking Marc Muniesa (Stoke City) is shown the yellow card for a bad foul.
24:23Foul by Marc Muniesa (Stoke City).
24:23James Milner (Liverpool) wins a free kick on the left wing.
23:37Attempt missed. Emre Can (Liverpool) right footed shot from outside the box is high and wide to the right. Assisted by Lucas Leiva.
21:55Attempt missed. Jonathan Walters (Stoke City) left footed shot from the left side of the box misses to the right. Assisted by Erik Pieters with a through ball.
20:01Foul by Glen Johnson (Stoke City).
20:01James Milner (Liverpool) wins a free kick on the left wing.
16:22Bojan (Stoke City) wins a free kick in the attacking half.
16:22Foul by Alberto Moreno (Liverpool).
16:11Attempt blocked. Roberto Firmino (Liverpool) left footed shot from outside the box is blocked.
13:06Corner, Stoke City. Conceded by Alberto Moreno.
13:03Attempt blocked. Jonathan Walters (Stoke City) left footed shot from the left side of the box is blocked. Assisted by Marko Arnautovic.
8:53Corner, Liverpool. Conceded by Philipp Wollscheid.
8:08Foul by Marko Arnautovic (Stoke City).
8:08Jon Flanagan (Liverpool) wins a free kick in the defensive half.
3:15Foul by Glenn Whelan (Stoke City).
3:15Adam Lallana (Liverpool) wins a free kick in the defensive half.
0:00First Half begins.
0:00Lineups are announced and players are warming up.
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