Michael Owen scores his first ever derby goal from the penalty spot after David Unsworth had sent Emile Heskey crashing to the ground inside the area.
After falling behind to a Campbell goal with less than five minutes on the clock, the Reds fought back with goals from Gerrard, Owen and Riise.
Kevin Campbell breaks the derby deadlock with a low shot on the turn after a flick-on by Duncan Ferguson.
Steven Gerrard levels for Liverpool with a blistering right footed drive into the top corner after creating space for himself inside the area.
On his derby debut John Arne Riise gives the Reds a two goal cushion after bursting past Steve Watson and sliding the ball under Everton goalkeeper Paul Gerrard.
Pre-match press conference at the Melwood training ground.
Match day commentary with Steve Hunter.