The BT Sport pundit feels Jose Mourinho's men may prevail once again.
But Jose Mourinho's men have also won their last two games - and they did so with just three shots on target over the course of 180 minutes.
Arsene Wenger, meanwhile, has never beaten Mourinho in 12 meetings. As such, Owen feels a massive change isn't in order this weekend, suggesting another 1-0 win for Chelsea - or a 1-1 draw.
He said: "Arsenal v Chelsea is a tricky game to call. The Gunners may have only scraped past Reading last weekend but their league form prior to that was sensational, in terms of results if not always performance.
"But we know how they struggle against the top sides, and this has the look of another 1-0 Chelsea win to me. However, you can’t ignore Arsenal’s excellent league form or the fact that Mourinho may settle for a point, so I go 1-1, too."
Chelsea won the reverse meeting between the two sides 2-0 earlier this season, when Wenger and Mourinho clashed on the touchline at Stamford Bridge.
Arsenal have beaten Manchester City & Liverpool (Premier League) and Manchester United (FA Cup) since, however, and will feel confident in their form (their most recent Reading game aside).
Owen's prediction, then, is a sensible one. But the beauty of these kind of clashes is that anything can happen, with the formbook flying out the window...