Owen featured in their Carling Cup win over Scunthorpe United.
Phelan said: "Rio's done well, but I thought also Michael Owen did exceptionally well. He showed what a top, top player he is and he contributed to everything tonight - he covered the ground really well.
"We have a young player in Chris Smalling who did well, then there were Kiko Macheda and Chicharito, and we introduced Bebe as well. The keeper (Tomasz Kuszczak) did exceptionally well. He dealt with everything that came his way."