Daily Mail reporting that the striker will be staying put at the Britannia Stadium, despite being heavily linked with a January move.
Owen only joined Stoke City in the summer in a bid to get his career back on track, but is yet to score for the Potters managing just four substitute appearances and one start – coming last weekend against Crystal Palace in the FA Cup third round.
It was thought the former England man may follow in the footsteps of his former Liverpool team mates Robbie Fowler and Emile Heskey by making a move to the Australian A-League, having reportedly been attracting interest from Perth Glory.
But Stoke boss Tony Pulis was quick to dismiss the rumour, saying he expected Owen to see out the remainder of his current deal in Staffordshire.
“Michael has got a contract until the end of the season and as far as I’m concerned, he has not come in and said he wants to change it.
“We haven’t pulled Michael in and said we want to change that. So Michael will be part of the football club hopefully until the end of the season.”
Owen has enjoyed a memorable career starting out at Liverpool, before a high profile move to Real Madrid, then onto Newcastle United and then a shock move to Manchester United. In recent years he has struggled with injury and hasn’t been able to infiltrate the England team he was once the ‘golden boy’ of.