The Uruguay international, who has netted 28 goals for the Reds so far this season, has been rumoured to be a possible departure from Anfield due to the club's failure to secure a trophy this season and their unlikelihood of clinching Champions League qualification.
"I doubt [Liverpool will lose Suarez]," Owen told talkSPORT. "They'll move heaven and earth to keep him. He's world class. If you look at the places that he could go, in my eyes only Spain is a realistic option. I can't imagine another Premier League club prising him away. It's only one of the Spanish giants that could take him.
"The Liverpool fans will be desperate to keep him. When you look at some of the players Liverpool have had over the last few years, like Xabi Alonso, Javier Mascherano, Steven Gerrard, they're three of the best midfielders in the world.
"You don't come across those sort of players too often and when you get them you have to move heaven and earth to keep them. I'm sure Liverpool will do that."
Bundesliga outfit Bayern Munich have been reported to be interested in the services of the striker.