The Reds were three goals to the good inside the opening 15 minutes through strikes from Curtis Jones, Luis Diaz and Mohamed Salah, who scored a penalty.
Harry Kane pulled one back for Spurs before the end of the first half, while Son reduced the deficit in the 77th minute. In the third minute of stoppage time, Richarlison thought he completed the comeback, only for Jota to make it 4-3 seconds later.
Liverpool now leapfrog Tottenham in fifth with 56 points and have a game in hand as well. Here are the five talking points from the game:
#5 Tottenham suffer another first-half meltdown
For the third Premier League game in a row, Tottenham were trailing at half-time by a margin least two goals. And for the second away game running, they conceded thrice inside the opening 15 minutes.
It has become a recurring theme now for Spurs to start games asleep at the wheel as Liverpool followed in the footsteps of Newcastle and Manchester United to make the most of it.
Jones and Diaz scored within five minutes, and just when it seemed like the visitors had woken up from their slumber, they ended up conceding a penalty which Salah duly converted.
#4 Alexander-Arnold the architect of Liverpool's win once again
Trent Alexander-Arnold has taken to his new midfield hybrid role by storm and continued his rich vein of form with an assist, his fifth in a row.
He fed Jones with a beautifully clipped ball at the back post, which the defender converted from close range. Just minutes later, Alexander-Arnold created their second by laying off for Gakpo, who then fed Diaz to finish at the near post.
Having endured a difficult campaign at a personal level, Alexander-Arnold is salvaging the season with a strong finish, as he's turned back the calendar in recent games with vintage displays.
#3 Liverpool implode to allow Spurs back into the game
Liverpool were comfortably 3-0 up inside the opening 15 minutes, and it appeared the game was done and dusted, However, the side imploded spectacularly to allow Spurs back into it.
The Whites tore open the Reds defence time and again with long balls that saw Son and Kane drive forward at will as Liverpool's defenders left acres of space at the back.
Their opening goal was a result of the same with Son skinning Van Dijk near the box before feeding Kane with a superb cross for the striker to fire home. The South Korean then got in behind the Liverpool defence once more to score their second in the 77th minute.
Son also whipped in a free-kick for Richarlison to head home the equaliser as the Reds backline failed to adequately mark him.
These kinds of defensive shortcomings are a major reason why Liverpool have struggled this season. Jurgen Klopp will be looking to make serious investments to beef up the defnece this summer.
#2 Diogo Jota ruins Richarlison's maiden goal for Spurs
Coming to Anfield, Richarlison hadn't scored a Premier League goal for Tottenham since joining from Everton last summer. He finally managed to break the duck here, only for Diego Jota to pour cold water over his celebrations seconds later.
The Brazilian made it 3-3 for Spurs in the 93rd minute by heading Son's free-kick beyond Alisson as his first top-flight goal for the side couldn't have come on a better occasion. At least, that's how it seemed.
Richarlison was visibly ecstatic, as the goal also seemingly earned a hard-earned point for Spurs, but Jota had other ideas. Moments after play resumed, the Portuguese made it 4-3 for Liverpool to steal the former's thunder.
#1 Tottenham's European hopes dealt mortal blow
Tottenham have been absolutely terrible in the Premier League in recent weeks, losing twice and drawing once in their last three games coming into the clash.
Liverpool appeared to pile more misery after racing to a 3-0 lead inside the opening 15 minutes of the game. While Spurs demonstrated excellent mental fortitude and character to fight their way back, they fell apart seconds after equalising to lose the game
Up until four games ago, Tottenham were nine points ahead of Liverpool, who albeit had a game in hand, but the Reds now lead Spurs in fifth by two points and still have one game more to play than them.
Given Liverpool's erratic nature, things could still change, but Spurs are themselves stuck in a rut at the moment, and the latest setback plunges their European hopes further into uncertainty.