The Observer says Ferguson is considering starting Owen in this afternoon's Carling Cup final and believes it is not too late for the striker to force his way into Fabio Capello's World Cup plans.
Owen came on as a substitute for Manchester United in midweek to score a trademark goal against West Ham and Ferguson insists that, despite restricted appearances, he is happy at Old Trafford and still improving as a player.
"I know my team for the AC Milan game already," Ferguson says. "The Carling Cup final selection will be a little bit trickier because I'm going to have to make two or three changes. Wembley is a tiring pitch - it's a tiring occasion, actually. And you have to think there's a possibility of extra time. I'm looking at Owen as a possible change.
"He took his goal against West Ham well, timing his run between defenders. If you watch it again you'll notice that he stops and goes again to make sure he stays onside. It was a typical Owen goal, and the more he shows he can still do that the more chance he has got of joining up with England again. I know that's at the back of his mind."