We demonstrate that four-wave mixing processes in high-quality non-linear resonators can lead to Rabi-like oscillations in photon occupation numbers and second-order correlation functions, being a characteristic feature of the presence of entangled photon pairs in the optical signal. In the case of a system driven by a continuous coherent pump, the oscillations occur in the transient regime. We show that driving the system with pulsed coherent pumping would generate strongly anti-bunched photon states.