The former forward believes the Liverpool manager should be praised for turning things around.
The Reds were struggling at the beginning of the season, with the sale of Luis Suarez and an injury to Daniel Sturridge robbing them of their two star men from last season.
However, manager Rodgers changed the system to one with three at the back and has led his side on a lengthy run of form that has seen them surge up the table to position themselves in contention for a Champions League place.
Defeat to Manchester United last time out has put a dent in those hopes but, as far as Owen is concerned, the Anfield manager deserves praise for the turnaround.
“At the start of the season there were a lot of question marks but I just love how Rodgers has turned it all around,” said Owen.
“He’s found a formation, he’s reinvigorated the team again and I just think he’s turned it around, under pressure, which isn’t easy, into a season that everyone thought was going nowhere. It could be a decent season at the end of the day.”
Despite nearly leading them to the title last season, before that ultimately costly slip-up against Chelsea, opinion is still divided on Merseyside about the Liverpool manager.
While some consider him to be the club’s long-term solution to bringing success back to the club, others believe otherwise. Owen though, is in the former camp, saying that this season was always going to be tough after losing Suarez.
“I’m in the camp that thinks he’s the best thing since sliced bread,” added Owen.
“I think he’s exceptional. I said at the start of the season they would finish fourth and that would be a good season. It was always going to be a tough season.”