Rangers will take on Hibernian in the semi-finals of the Scottish Cup at Hampden Park in Glasgow on Saturday afternoon.
Former Newcastle striker Owen believes that the Gers, who have won the Scottish Championship title and the Scottish Challenge Cup this season, will clinch the final.
The former England international has backed Mark Warburton’s side to emerge victorious courtesy of a 2-1 score.
"Of course, that means very little and they were probably still partying after knocking out Celtic in the semis. Again, that will count for nothing if they don’t beat Hibs – and Hibs did win both of their home games against Rangers, 3-2 and 2-1, even if they lost their three other meetings – but I think they will. I go 2-1."
Former Rangers and Heart of Midlothian winger Neil McCann has also backed the Gers to win the final, but only just.
"It will be an intriguing game,” McCann told Sky Sports. “Hibs will be tight they won't be too open. Rangers have not won it since 2009 and they will have a big incentive too with a possible place in the Europa League qualifiers and I think they might just shade it."
Rangers have the better team, and they will head into the match against Hibernian as favourites.
Winning the Scottish Cup will allow the Gers to play in the Europa League next season, and this is going to be a massive incentive.
Hibernian are still smarting from their failure in the Scottish Premiership playoffs, and it is hard to see them get the better of Rangers in the Scottish Cup final on Saturday.