Peter Crouch scored the winning goal as Liverpool lifted the Community Shield following a 2-1 victory against Chelsea in 2006.
An underwhelming second half looked to be drifting towards a penalty shoot-out until Crouch rose to head the Reds back in front with 10 minutes remaining.
Wales international Craig Bellamy, signed by Liverpool in the summer, marked his debut for the club at the Millennium Stadium in Cardiff with a match-winning contribution. His electric pace saw him break clear down the left and he delivered a fabulous cross for Crouch to head in from close range.
Liverpool, with Steven Gerrard on the bench, went ahead when John Arne Riise ran 60 yards before beating Carlo Cudicini with a dipping shot.
Andriy Shevchenko equalised for Chelsea before half-time, guiding home Frank Lampard’s inviting pass, but Crouch clinched the win for Liverpool late on.