Houllier was previously in charge of Owen during his successful spell at Liverpool. But the Frenchman confirmed he will not attempt to be reunited with the former England player during the next transfer window.
Houllier expects to have Emile Heskey and John Carew available after injury lay-offs within the next month.
Gabriel Agbonlahor has already returned to action after six weeks on the sidelines following groin surgery.
When asked if he would try to sign Owen in January, Houllier said: "No, no. In terms of some strikers Emile and John will come back. There is no point."
But Houllier did confirm: "We definitely need to sign one or two players in January."