After a hectic opening quarter of an hour which saw chances at both ends it was the visitors who opened the scoring. From just inside his own half Harry Kewell spotted the run of Vladimir Smicer and threaded a delightful ball to the Czech Republic international who coolly lifted the ball over the advancing Dean Kiely with the outside of his right boot.
Charlton were back on terms on the half hour though, Graham Stuart took advantage of a sloppy clearance to feed Lisbie who calmly slotted past Jerzy Dudek from the edge of the 18-yard box.
Lisbie was at it again three minutes before the break to silence some sections of the Valley crowd who had earlier booed him, reacting quickest after Dudek had pushed out a Shaun Bartlett shot following a corner to bundle home from five yards.
The breakneck speed persisted after the interval as both sides continued to carve out opportunities.
It was Gerard Houllier's men who struck next however, Michael Owen coolly dispatching a penalty after Chris Perry was adjudged to have held back Emile Heskey in the Charlton penalty area.
Lisbie made himself a hero with just seven minutes remaining by claiming his first senior hat-trick. After picking up Kiely's throw-out the Jamaican international sped from midway inside his own half past a lacklustre Steve Finnan challenge before firing home a sweetly struck 25-yard effort past the flat-footed Dudek.
There was still time for Kewell to drill against an upright, but Charlton clung on for their first home win of the season win which takes them up to 11th, while Liverpool remain seventh.
