The Reds have endured a poor start to the current season but bounced back from a 3-1 defeat to Crystal Palace in strong fashion recently.
And former Liverpool striker Owen believes the Northern Irishman has responded well to the challenges around him.
"Brendan Rodgers spoke a lot of sense after tonight's game," Owen wrote on Sportlobster after his former club's 3-1 victory.
"He has been dealt a different hand this season so his task is to get the best out of his current crop. Admittedly, there are a couple of questionable signings and Liverpool may not be as exciting to watch for a while but I'm certain Rodgers is the right man to rebuild the team."
In his post-match interview, Rodgers had said: "What's important for me is the spirit. Ludogorets was a good performance. We had a good performance at the weekend [against Stoke] even if it was a tight game. I think being competitive is very important for us.
"We've changed it around and looked at the mentality of the team going into the games and the focus and the concentration and that, over the last three games, has been excellent."