Owen has had a torrid time with injuries and has not featured for United in 2012 on account of a thigh injury.
The striker is back in training and although he is not likely to feature against Everton, he could be in contention for the final three games of the season.
"If there is a players that can score an important goal at any stage of a match it is Michael," Ferguson said. "We welcome him back.
"He's had a hard time the lad. When he gets an injury it is never an easy one. It is normally months rather than weeks. It has been the unfortunate part of his career, as he really is a fantastic striker."