The Progressive Democrats' manifesto commitment to seek an Ombudsman for the Legal Profession may not be the best way to deal with complaints against its members, according to Mr McDowell.
The Minister for Justice was speaking at the launch of the task force report into the regulation of solicitors, which he welcomed.
He pointed out that the PD commitment on the legal ombudsman was not in the agreed Programme for Government, but added that this did not preclude it from being part of the legislative programme.
"I have a very open mind," Mr McDowell said. "Knowing about people's capacity to be deeply dissatisfied with the outcome of cases, would a legal ombudsman be overwhelmed?
"Would sorting the wheat from the chaff not be very difficult? Could it foul up for want of resources? Is the present system not better?"
He added that self-regulation must deliver the highest standards of professional integrity and protection for the interests of clients and the public, otherwise there would be calls for external regulation.
He said he would introduce any legislation necessary to implement the recommendations in the Task Force report, including providing for a majority of members of solicitors' regulatory bodies not to be members of the Council of the Law Society.
Referring to the forthcoming Competition Authority report on the legal professions, he said that standard economic theory may not deliver the best service to clients of the legal professions.
"If a person goes into a solicitor in Cahirciveen, they can have access to the best legal advice in the country, through access to the bar.
"If you had a fused profession, it would mean you could not do that."
Quality and cost were both key issues, he said. "The Competition Authority is there to ensure that the Irish State and the Irish public get the most competitive service from those areas that are regulated."
Mr McDowell pointed out that he had also recently set up a committee that was looking at ways to cut the cost of civil litigation.
"I want to avoid a situation where an ordinary person with an ordinary problem cannot litigate that problem. The same applies to family law.
"Anecdotal evidence is reaching me that in some instances in family law, colossal fees are being demanded. This can't be allowed to become a financial catastrophe for people," the Minister said.