The 27-year-old broke the hearts of Liverpool fans when he decided to leave his boyhood club for Real Madrid in the summer.
Alexander-Arnold was expected to leave Liverpool as a free agent, but Real Madrid ultimately paid £10 million to sign him before the summer’s FIFA Club World Cup.
He has since struggled to break into Xabi Alonso’s first team, starting just one of their last five games across all competitions.
With the two clubs set to meet in the Champions League on Tuesday, Alexander-Arnold reflected on his relationship with the Premier League holders.
He told Amazon Prime Sport: "When the draw was announced, I think everyone kind of knew it was going to happen, it was destined for that fixture to come.
“Obviously, they're a top team, so I knew at some point I'd end up going back there or playing against Liverpool. It's happening so soon.
“Mixed emotions. I think it'll be a very, very difficult game but one that I'm excited for."
He added that he wouldn’t celebrate against his former club should he score, saying: "Whatever way I'm received is the decision of the fans. I'll always love the club, I'll always be a fan of the club.
“I'll always be thankful for the opportunities and the things we achieved together - they'll live with me forever.
“No matter what, my feelings won't change towards Liverpool. I've got memories there that will last me a lifetime and, no matter how I'm received, that won't change."