The Reds take on Keown's former club in the Community Shield this afternoon after romping last season's Premier League.
Liverpool have enjoyed a stellar few seasons under Klopp and his team.
But Keown has urged the Reds to copy Wenger's former tactic of sitting down at the start of a season and ensuring everyone in the squad wasn't edging towards to complacency.
"At Arsenal, Wenger used to get a flipchart out. We’d sit down in a team meeting together, agree what our main targets were and discuss how much we wanted it," the ex-defender told the Daily Mail.
"We’d refocus. That’s what Liverpool must do now. With Klopp in charge, I think they can be successful in doing that, too.
"We may be looking at the 2020-21 Premier League champions.
"First, let’s see what they produce against a team who beat them 2-1 at the Emirates Stadium last month."
However, Keown admits Liverpool, along with Arsenal, may not be at their best this evening after a short break.
"We don’t know the exact state of these players. They’ve barely had a break - Arsenal especially, given it’s four weeks since they took part in an FA Cup final.
Even if there were internationals, Arsene Wenger would always like you to take at least a month between the last time you kicked a ball to the next. But Mikel Arteta hasn’t had that luxury.
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Plus, Wembley will be empty, with supporters not yet allowed inside stadiums to create an atmosphere. Nevertheless, the Community Shield is a game I love. As a kid, I found it a relief when it came along because it meant the new season was just around the corner.
This match might give us an insight into Liverpool as they prepare to defend their Premier League title.
Jurgen Klopp’s side lost their edge towards the end of last season. When they came back after the suspension, it was a case of dotting the i’s and crossing the t’s in order to become champions.