Nunez sustained a bang to the shoulder in the second half of the Reds Premier League victory over Newcastle on Saturday.
Despite his best efforts to carry on, the Uruguayan was eventually withdrawn from the action, and was spotted with his arm in a sling as Liverpool returned home that night.
However, in his pre-match press conference on Monday, Jurgen Klopp offered some hope that Nunez would be able to feature against Real Madrid, but whether hell be fit to enough to start is unclear.
The 23-year-old trained as normal on Monday afternoon, which would suggest he is on track to be part of the squad at the very least.
Here, we look at two ways the Reds could line up against Real Madrid with and without Nunez.
From Jurgen Klopps pre-match press conference and Liverpools training session on Monday, we know the following:
Goalkeepers: Alisson, Kelleher, Adrian, Mrozek
Defenders: Van Dijk, Gomez, Matip, Alexander-Arnold, Robertson, Tsimikas
Midfielders: Henderson, Fabinho, Bajcetic, Keita, Elliott, Milner, Jones, Oxlade-Chamberlain, Arthur
Forwards: Salah, Nunez, Gakpo, Jota, Firmino, Carvalho
Should Nunez get the green light to start against Carlo Ancelottis side, theres every chance Klopp will stick with the same team that won at St James Park on Saturday.
That would see Nunez alongside Mo Salah and Cody Gakpo again in attack, with Diogo Jota and Roberto Firmino waiting in the wings on the bench.
If thats the case, Liverpool would shape up like this:
That would leave the XI looking like this:
Alisson; Alexander-Arnold, Gomez, Van Dijk, Robertson; Fabinho, Henderson, Bajcetic; Salah, Nunez, Gakpo
However, even if Nunez is deemed fit enough to be involved on Tuesday, theres a possibility Klopp would prefer to use him off the bench.
With Jota and Firmino fit again, the Liverpool boss certainly has some forward players who are more than capable of filling in.
Jota may be the likeliest to slot into Nunezs left sided attacking role, with Gakpo impressing centrally against Everton and Newcastle.
If Nunez doesnt start, this could be Liverpools team:
That would see Liverpool line up as below:
Alisson; Alexander-Arnold, Gomez, Van Dijk, Robertson; Fabinho, Henderson, Bajcetic; Salah, Jota, Gakpo
Given his recent form and the problems he could pose the Real defence, Nunez would definitely be a miss for Liverpool should he be ruled out.
But as replacements go, Jota certainly wouldnt be a bad one, with Klopp also having the option of bringing Firmino into the side and moving Gakpo back out to the left.
Meanwhile, two key players are missing from Real Madrids likely lineup to face the Reds.