The Reds have enjoyed a successful season and are currently top of the Premier League table with two games left to play.
Their form has surprised many, who didn't expect them to be challenging Manchester City and Chelsea for the title, and Fowler believes that this is only the start of what he predicts to be a "special" period in the club's history.
"If people think Liverpool are a one-season wonder, you're doing the team a discredit, the manager a massive discredit," he told Irish radio station Newstalk.
"Brendan Rodgers is the best thing that has happened to Liverpool for years and years.
"He has everything in the locker. He won't allow Liverpool to be one-season wonders. He has given the players so much belief. I believe this is the start of something special."
Liverpool visit Crystal Palace in their next Premier League match on Monday, before welcoming Newcastle United to Anfield next Sunday in their final game of the season.