Farrell, who has been hitting the headlines recently with impressive performances both for club and England, is no stranger to Bowe with the pair both having been a part of the Lions victorious tour down under last summer.
And while Bowe believes the fly-half is in even better form this season, the Irish wing is looking to home advantage to help gain revenge for last year's 27-16 loss at the same stage last year - a match in which Farrell also starred.
"Saracens have strengths all over the field," Bowe told the Telegraph. "I toured with Owen Farrell for the Lions and he is playing the rugby of his career.
"But we have worked hard to get to this point and know that if we play to the level we are capable of that we have a good chance of victory. The crowd will play its part, too. It will be daunting for Saracens.
"There is a huge amount to play for. We did not even get out of the blocks against Saracens last season so we will have to be at the top of our game to beat them."