The Reds will be looking to bounce back from their 3-0 defeat away to Watford last weekend when Ranieri's men visit Anfield on Boxing Day (3pm).
Leicester have stormed to the top the Premier League and are now being discussed as creditable title contenders.
Klopp has tried to impose his high pressing tactic at Liverpool and he admits he is a big fan of how Ranieri's side go about their work.
"Ranieri is one of the most experienced and successful coaches in the world," Klopp said.
"There is big respect from both sides.
“They play nearly perfect counter-attacking football. Very quick.
"I have big respect for Claudio and whole squad of Leicester.”