Teddy Sheringham converts from close-range with just three minutes remaining to ensure a frantic finale at White Hart Lane.
Gerrard crosses from the right and the unmarked Owen slides in at the far post to turn the ball home for 1-1.
Liverpool boost their chances of a top-four finish in the Premiership as they come from behind to register a crucial victory over Tottenham at White Hart Lane.
Match-day show and commentary of the home game against Tottenham Hotspur with Steve Hunter
Gerrard does well to cross from the right and Heskey is on hand to head home at the far post and give Liverpool a 2-1 lead.
Gerrard increases the Reds' lead with a superb solo goal nine minutes from time. From his own half he charges forward and with a sweet finish he nets clinically into the bottom corner.
Gerrard Houllier previews the Tottenham game
Disaster strikes for Jerzy Dudek who gifts Spurs a bizarre opening goal. Mauricio Taricco cuts in from the left and unleashes a long-range shot that the Reds keeper unfortunately spills into the net.