Arsenal and Liverpool had played a 0-0 draw in the Carabao Cup semi-final first leg encounter at Anfield last week.
The winner between Arsenal and Liverpool will face Chelsea in the Carabao Cup final.
Recall that Chelsea recently eliminated Tottenham Hotspur out of the Carabao Cup semi-final after a 3-0 aggregate win.
Providing his predictions, Owen told BetVictor: “I have to admit, I was impressed by Arsenal’s performance last week. To play for so long with ten men and to hold out was, frankly, an un-Arsenal type result.
“Liverpool were impressive against Brentford and should have scored more than the three they did. Salah and Mane are obviously big misses, but Oxlade-Chamberlain and Jota were bright throughout the game.
“I think Arsenal will have more of the ball, but Liverpool will cause a lot of problems on the break. 2-1 to Liverpool.”
The kick-off time for Arsenal vs Liverpool is 8.45 pm.