New Aston Villa boss Houllier worked with Owen at Liverpool and the Frenchman is keen for a reunion at Villa Park.
'He has always been in my thoughts. I like him (Owen), as a player and a man,' said Houllier.
The way we were: Houllier with Owen during their Liverpool days in 2003
'I went to Liverpool on September 4 for Jamie Carragher's testimonial, and I saw Michael play a half of football. He still has the legs for it.'
Houllier will be encouraged by comments from Owen outlining his frustration at a lack of opportunities at Old Trafford.
Owen, 30, signed for United on a free transfer from Newcastle last summer but made just 11 starts before injury ended his season in February.
Kicking his heels: Owen is not a regular
He said: 'It sounds easy, but probably the most difficult thing is not playing for a couple of weeks and then all of a sudden getting called up and being mentally and physically right to perform well.'
Meanwhile, Houllier also confirmed he is in talks with Robert Duverne about adding the fitness coach to his backroom team.
Duverne, who previously worked with Houllier at Lyon, was the France coach who had a furious row with Les Bleus captain Patrice Evra when the revolting national team refused to train at the World Cup.
The 43-year-old became assistant manager at newly promoted Ligue 1 side Arles-Avignon after South Africa but he resigned on Monday on the back of five straight defeats.
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