The Reds know they must win their last two Premier League matches to have any chance of beating Manchester City to the title.
And Owen thinks Reds boss Klopp will have his side ready for action following their defeat to Barcelona in the Champions League on Wednesday.
The former England star has warned Liverpool they won’t have it easy against former boss Rafa Benitez though.
He told BetVictor: “Liverpool have it all to do as they try and overturn a three-goal deficit from the 1st leg of their Champions League semi-final with Barcelona midweek, but they cannot get ahead of themselves and must win at St James’ Park on Saturday as they try and keep the pressure on Manchester City in the race for the PL title.
“The Reds were, arguably, unlucky not to find the back of the Barca net on at least one occasion midweek but they can’t afford to feel sorry for themselves.
“I expect Jurgen Klopp to have them fired up for the trip to a Newcastle side who did, of course, beat City 2-1 at home earlier on the season.
“The Magpies have only lost one of their last six home league games against the Reds and won’t go down without a fight, but I feel it would be fitting this season if the title race went right down to the wire.”
Paul Merson thinks Liverpool will win and keep the title race alive.
The Reds know if they lose and Manchester City beat Leicester on Monday evening then Pep Guardiola’s side will be crowned Premier League champions.
Merson told Sky Sports: “You hope Liverpool win, you really do, because otherwise you look at it and the fact they lost 3-0 at Barcelona, and if they draw here their season’s fizzled out in four days.
“I think they’ll win, the other night they just came up against an extraordinary club.
“They don’t deserve their season to fizzle out. They should at least take it to the last day.
“Newcastle will make it a long night for them, they’re used to being tight, they don’t have to entertain, their fans know what they’re like, they’ll make it hard and it’ll be a tough one.”
Liverpool travel to Newcastle tomorrow evening (7.45pm).
Naby Keita is out of the match and the remainder of the season with an adductor issue.
The midfielder was forced off early against Barcelona in the Nou Camp earlier this week.