The 23-year-old England international still has two years remaining on his contract but the Reds know only too well that they must sign him up to a long-term deal or risk losing another player - after the now infamous Steve McManaman bosman debacle - to a European giant for free.
Houllier said: "I can tell you Michael Owen is very committed to Liverpool Football Club.
"He has two years left on his contract and it's not the right time to talk about it, but we are very confident Michael will stay with us."