The 32-year-old veteran enjoyed a scintillating spell at Anfield, and Aguero admits the former England international gave him confidence he could succeed as a footballer despite their similarly small statures.
"I'm not so much a fan of Liverpool, but one of the players who was my idol when I was a boy was Michael Owen," he told the Daily Mirror. "He was quite small and had an eye for goal, just like me.
"When Liverpool were winning trophies, I was looking out for them because Owen was doing well."
Aguero recalls the moment where his admiration for Owen was temporarily clouded, during World Cup '98 when he scored perhaps his most famous goal, in the last-16 knockout phase, against the City striker's native Argentina.
"It's ever since he scored for England against Argentina in '98, although I wasn't too happy at the time," he continued. "I cursed him pretty badly for scoring that.
"But getting that goal didn't stop me from admiring him."
The South American star has enjoyed a successful start to his career in England, and currently sits proudly at the top of the Citizens' scoring charts with 17 goals so far this campaign.
As attention now turns to the club's Carling Cup semi-final second leg trip to Anfield, with City trailing Liverpool 1-0 after their Etihad Stadium clash a fortnight ago, Aguero is confident of turning the tie around.
"It'd be nice to play in a final at Wembley with City," he concluded. "We'll be going there and giving everything we've got because we know it's an important game for this club."