"It is impossible to say about my future at Liverpool," Owen was quoted as saying on the club's web site on Wednesday.
"If they are winning the league every year, there will not be any decision to make about playing abroad," the 2001 European Footballer of the Year added.
"There is no problem now and, in an ideal situation, Liverpool will do really well this season and challenge for the (premier) league.
"But I really need to be playing in the Champions League and that is something we have to remedy."
The club are eighth in the premier league standings, 13 points behind leaders Arsenal with two thirds of the season left.
Owen's England captain David Beckham has said he would like the 23-year-old striker alongside him at Real Madrid and Barcelona have also been linked with Owen.
But Owen added: "I've moved into a new house, I've just become a father, and my family are close by. I've lived here all my life, and you don't just jump up and go."
Gerrard signed a new contract running until 2007 on Tuesday.
