Despite not having much of the ball in the opening minutes it was Owen to get on the scoresheet first, netting his ninth goal of the season after good work from John Arne Riise on 34 minutes.
Leeds reacted quickly and took only eight minutes to level through Alan Smith following good work from Jermaine Pennant on the right wing.
Liverpool started the second half the better of the two sides and it was substitute Danny Murphy, on for an injured Vladimie Smicer, whose indirect free kick on 57 minutes was curled into the far post and fumbled by Paul Robinson before trickling into the net. Jeff Winter consulted his linesman and allowed the goal.
Florent Sinama Pongolle was in fine form for the reserves midweek and it was only a matter of time before he was given the chance to show what he could do on the big stage.
He came on for Owen and quickly settled into the game, causing problems for the Leeds defence. He was finally rewarded with his first senior goal for the club five minutes from time as he struck the ball into the back of the net from Emile Heskey's flick-on, leaving Robinson with no chance.
Anthony Le Tallec came on for Harry Kewell in the last few minutes and could have made it four, but Liverpool had already done what was needed to earn the three points.
Have Liverpool silenced the critics?