Leicester will take on West Brom at the King Power Stadium in the Premier League on Thursday evening.
The Foxes are aiming to consolidate their place in the top four, while the Baggies are still hopeful of escaping the dreaded drop to the Championship at the end of the season.
Former Liverpool and Manchester United striker Owen has backed Leicester to pick up all three points from the encounter against the Baggies courtesy of a 2-0 win.
Owen said: “Through to their first FA Cup final since 1969, Leicester should come into this still on a high from Sunday’s win against Southampton.
“West Brom have shown a lot of improvement in recent weeks, however, it’s probably been all too late for Sam Allardyce’s side.
“The Foxes have been excellent at times this season, and with Champions League qualification within touching distance, I think they’ll have enough to win this comfortably.”
Brendan Rodgers’s Leicester are third in the Premier League table at the moment with 56 posts from 31 matches, a point ahead of fourth-placed Chelsea, who have played 32 games.
Meanwhile, West Brom currently find themselves second from bottom in the league table with 24 points from 31 matches, nine points behind 17th-placed Burnley, who have played 32 games.