England will take on Russia in their opening Euro 2016 game at Stade Velodrome in Marseille on Saturday evening.
Walker is one of the best right-backs in the Premier League and was a key player for Tottenham this past season.
Owen believes that England head coach Roy Hodgson should pick Liverpool defender Nathaniel Clyne ahead of Walker at right-back against Russia.
“At right back, I’d play Nathaniel Clyne in the tougher games – I think he is the best defender in the position – and Walker in the games where we ought to have most possession,” Owen wrote on Colossusbets.com.
The former England international has also explained why he would pick Manchester City attacker Raheem Sterling in the England starting lineup against Russia.
“Sterling has not had a great season, I admit that, but his pace is electric,” explained Owen. “We need to make sure we have speed in the team, as I said earlier. Defenders will be happy to see him on the bench, so he should be starting.”
The former Newcastle United striker has picked Manchester City goalkeeper Joe Hart, Tottenham stars Danny Rose, Eric Dier, Dele Alli and Harry Kane, Manchester United pair Chris Smalling and Wayne Rooney, Everton defender John Stones, and Liverpool midfielder Adam Lallana.
4-1-4-1: Joe Hart; Nathaniel Clyne, Chris Smalling, John Stones, Danny Rose; Eric Dier; Adam Lallana, Dele Alli, Wayne Rooney, Raheem Sterling; Harry Kane