Liver dynamic contrast-enhanced MRI (DCE-MRI) requires high spatiotemporal resolution and large field of view to clearly visualize all relevant enhancement phases and detect early-stage liver lesions. The low-rank plus sparse (L+S) reconstruction outperforms standard sparsity-only-based reconstruction through separation of low-rank background component (L) and sparse dynamic components (S). However, the L+S decomposition is sensitive to respiratory motion so that image quality is compromised when breathing occurs during long time data acquisition. To enable high quality reconstruction for free-breathing liver 4D DCE-MRI, this paper presents a novel method called SMC-LS, which incorporates Sliding Motion Compensation into the standard L+S reconstruction. The global superior-inferior displacement of the internal abdominal organs is inferred directly from the undersampled raw data and then used to correct the breathing induced sliding motion which is the dominant component of respiratory motion. With sliding motion compensation, the reconstructed temporal frames are roughly registered before applying the standard L+S decomposition. The proposed method has been validated using free-breathing liver 4D MRI phantom data, free-breathing liver 4D DCE-MRI phantom data, and in vivo free breathing liver 4D MRI dataset. Results demonstrated that SMC-LS reconstruction can effectively reduce motion blurring artifacts and preserve both spatial structures and temporal variations at a sub-second temporal frame rate for free-breathing whole-liver 4D DCE-MRI.