Toure signs for the Reds on a Bosman.
"I've played against him (Toure) numerous times and he is a fantastic player," Fowler told Liverpoolfc.com.
"I'm sure coming to a new club will spur him on that little bit more and he will want to do well. He will want to play. I think he will try hard in training and a little bit of pride will set in.
"You look at his performances over the years for Arsenal and Manchester City - he has been magnificent in the Premier League. Let's hope that he comes to Liverpool and carries on that magnificent form.
"He's been a fantastic player. His experience will be vital for Liverpool, especially after losing Carra. Carra was unbelievable for Liverpool and, if anything, he was probably Liverpool's best defender last year. He will be a big miss.
"I don't know if Kolo Toure will play all of the games, but Liverpool as a team and a squad certainly needed a lot more numbers. Brendan is doing that right now. Toure has been there and worn the T-shirt in the Premier League so I think his signing is absolutely magnificent."