The United striker is in line to start at his former club if Wayne Rooney fails to recover from the calf injury in time to face rivals Liverpool.
Owen could be in for a fiery reception from the Kop fans who once idolised him - but the United boss is convinced the derby hero can put Rafa Benitez' side to the sword.
Fergie said: "He's capable of scoring in any match at the highest level. He has a proven record in that respect and we knew that when we bought him.
"He's at Manchester United now. He had great years at Liverpool and I'll be interested to see the reaction he gets because very few players have played for both clubs.
"But I don't think it will bother him."
Owen is an Anfield legend, scoring 118 goals in 216 appearances, including his double in the 2001 FA Cup final to beat Arsenal.
Liverpool fans were stunned when he signed for United on a free transfer in the summer, with many angry that Benitez didn't try to lure him back to the Kop.
Owen decision
It is a decision that has looked all the more foolish with Liverpool having such little cover for leading scorer, Fernando Torres.
Owen has already made himself a United hero thanks to his last-gasp goal in the thrilling 4-3 derby win against City. And Fergie is convinced that strike was just the start of things to come and has no regrets about bringing an Anfield icon to Old Trafford.
"It was definitely the right thing to do," he said. "I see it in the movement he does. There is no one better at holding the line in the last third of the field.
"He is very seldom offside. He has the experience and talent to beat the offside trap, run the line and come in at the proper angles with the right timing. There is no one better at it.
"His derby goal doesn't put him in history books, but it won't be forgotten. He's only just started with us. Only been here a few months and I hope he's with us a long time. I think he is capable of doing that."
Former United striker Andrew Cole has warned Owen he could be in for a surprise if he expects a friendly welcome back to Anfield..
He said "Michael did a great job for Liverpool but now he's on the other side and that's the way the Liverpool fans will see it.
"You've only got to look at Carlos Tevez when he came back to United. He got a lot of flak from the supporters so it'll be very interesting tomorrow."
Darren Fletcher is another doubt ahead the game, though Ryan Giggs and Patrice Evra will both return after missing the Champions League win against CSKA Moscow.
Do you think Owen will score against Liverpool? Have your say.
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Showing comments 1 to 22 and replies | View All
Thomas C F, Oslo (24/10/2009 at 11:54)
Can't wait 'till tomorrow, I'll be watching the game with a bunch of Liverpool fans here in Oslo, and it would be great to see him score.
Algernon Blabbermouth, eccles (24/10/2009 at 12:44)
Seen the Watford game last night and Tom Cleverley was excellant again. He is more than ready to fight for a place in the team. And Cathcart is not too far off! The future is Red. 28-0.
RemiMoses, Ireland (24/10/2009 at 13:21)
Mrs Fullaway`s lodger (24/10/2009 at 14:39)
24/10/2009 at 11:54
Can't wait 'till tomorrow, I'll be watching the game with a bunch of Liverpool fans here in Oslo, and it would be great to see him score
watch yer back.
Red8, Cheshire (24/10/2009 at 16:37)
Matthew Savage (24/10/2009 at 17:24)
When I look back at the Cup team that United used to be and compare this with the success SAF has brought to United: I don't think his absolute genius will be totally appreciated for ten or twenty years simply because he has been so overwhelmingly affective.
After selling Ronaldo, I think if we win the league this year it will rank as the third best in SAF's time (after title 1 and getting it back from post-Abramovich Chelsea); if United win the European Cup it will be SAF's greatest ever achievement.
tripone, canada (24/10/2009 at 18:38)
Gilly, Belgium (24/10/2009 at 19:15)
good luck boys
Red Bear, Heaton Park (24/10/2009 at 20:11)
fowler, wythenshawe (24/10/2009 at 20:26)
Siralex, Stavanger (24/10/2009 at 22:18)
One that certainly is going to score is Ryan Giggs, he's just completely raw.
Come on United this goes our way.
Seamus, Vanisle,ex-Stretford (24/10/2009 at 22:56)
I watched that Watford game too, and Cleverley and Cathcart were the outstanding players on the pitch that night. Bodes well for the future if they keep that up. Owen's pace will keep the Dippers occupied if Wazza doesn't make it,they're not ve\ry quick back there, but we'll suffer with his lack of tracking back, which will mean Valencia and Giggs will really have to put in hard shifts going back, but I expect Valencia will also burn their full back more than once and a goal or two may come from that side. As long as we don't lose I'll be happy enough, I hate losing to the Dippers. Actually I simply hate the Dippers, period.
Rick Jenks, Bury (24/10/2009 at 23:25)
Thomas good advice from Mrs Fullaway's you do need to watch those United fans they are all dodgy. Get my drift?
Can't wait 'till tomorrow, I'll be watching the game with a bunch of Liverpool fans here in Oslo, and it would be great to see him score
watch yer back.
Mrs Fullaway`s lodger,
24/10/2009 at 14:39
Happy Valley Barry, San Francisco, California (25/10/2009 at 03:35)
(hopefully!!)
Up the Reds!
skh,pj, Malaysia (25/10/2009 at 07:34)
He will have a burning desire to do well as he wants to show that it
was a grave mistake for Liverpool not to sign him back and to get himself
on the right side of United's fans.
In any case I believe Owen combines with Berbatov better than Rooney.
Let us have our revenge for last year's humiliation!
MAN U>CR7, SINGAPORE (25/10/2009 at 08:15)
Mancinitaly, Calabria (25/10/2009 at 08:22)
DUB RED, CLONDALKIN (25/10/2009 at 09:58)
joey (25/10/2009 at 10:01)
Fergie hasn't a CLUE, Madoc Ontario Canada (25/10/2009 at 16:37)
si 4 kop, Runcorn (25/10/2009 at 17:11)
patrick murray (12/01/2010 at 17:14)