The Spurs retired the No. 12 three years ago as a tribute to Bowen, the former starting small forward on three San Antonio championship teams (2003, 2005 and 2007).
According to the San Antonio Express-News, Spurs general manager R.C. Buford called Bowen, an ESPN analyst, to ask about giving up his retired number to Aldridge, who last week agreed to a four-year deal worth more than $80 million as the club's prized acquisition in free agency.
Bowen immediately agreed, according to the Express-News.
"You want LaMarcus to feel part of the family," Bowen told the Express-News. "If I can have a hand in that, shoot, why not? I don't play anymore.
"I hope it helps [Aldridge] feel comfortable. If he's comfortable, the sky's the limit for him here."
Aldridge has worn No. 12 throughout his entire nine-year NBA career.
A four-time NBA all-star, Aldridge averaged a career-high 23.4 points while averaging 10.2 rebounds per game last season with the Portland Trail Blazers. Multiple teams -- including the Dallas Mavericks, Los Angeles Lakers, Houston Rockets, Phoenix Suns and Miami Heat -- also tried to woo Aldridge in free agency.
The Spurs officially announced Aldridge's deal with the team Thursday.