Liverpool will take on the Foxes at Anfield in the Premier League on Sunday evening.
The defending English champions are third in the league table at the moment with 17 points from eight matches, just a point behind leaders Leicester.
Jurgen Klopp’s side will head into the match against Brendan Rodgers’s team on the back of a 1-1 draw with Manchester City away from home at the Etihad Stadium in the league.
Meanwhile, Leicester got the better of Wolverhampton Wanderers 1-0 at the King Power Stadium in their last league game before the two-week international break.
While predicting a 3-1 win for Liverpool against Leicester, Owen said: “As we all know, Liverpool come into this with a few key players missing. One huge positive that has come from this is the emergence of Diogo Jota.
“He’s been in incredible form and will have the platform to play a huge role here again. The Reds are a bit light in midfield but Jurgen Klopp still has options, so the team should be strong enough.
“As for Leicester, they have a good side with their main threat being on the counter-attack. That will be where Liverpool will be concerned the most, but Leicester have injuries of their own. Im expecting an open match, and I think Liverpool will win with both teams scoring.”