Robbie Fowler scored a hat-trick to take his tally of career league goals to 101 in 175 matches and Dominic Matteo headed into the top corner, notching his debut strike for the Reds.
Jamie Carragher, Michael Owen and David Thompson completed the scoring for the home team on a day when it could have been an even greater margin of victory over David Jones' Saints.
A slight lapse in concentration at 5-0 up allowed Egil Ostenstad to net a consolation for Southampton.
The Reds have matched the six-goal margin of victory on six occassions down the years - but the seven scored remains a landmark.
Here are Liverpool's biggest wins in the top-flight since 1992...
* The Reds have also recorded 12 5-0 wins in the Premier League: Crystal Palace (1993), Swindon Town (1994), Leeds United (1996), West Ham United (1998), Ipswich Town (2002), West Brom (2005), Aston Villa (2009), Birmingham City (2011), Norwich City (2013), Swansea City (2013 and 2018) and Tottenham Hotspur (2014).