Liverpool have already signalled their intent in the transfer market this summer by signing Kolo Touré, Iago Aspas, Luis Alberto and Simon Mignolet.
And Kop legend Fowler is convinced that the Reds will be challenging for a Champions League spot next term.
“At the start of every season, we always have aims and ambitions to get into the top four and get as high up the table as we can,” Fowler told Liverpool’s website.
“We didn’t do it last season, but you could see the progression was slowly getting there – we were getting better all the time.
“For this season, there have been a few more players added to the squad, so I think the consistency will be a little bit better.
“The likes of Manchester United and Chelsea have got new managers now, so hopefully it will be a bit of a sticking point for them – but in terms of Brendan Rodgers and the squad we’re putting together, I think we can certainly challenge for that top four.”