Houllier has been strongly linked with a move for the former Liverpool striker, following their successful spell together at Anfield.
Houllier said, when asked if he would make a move for Owen: “No, no. In terms of some strikers Emile (Heskey) and John (Carew) will come back.
“There is no point.”
But Houllier is looking to make signings in the January transfer window.
He said: “We definitely need to sign one or two players in January.”