Free agent Owen is allowed to join the Potters outside of the transfer window and has penned a one-year contract, subject to Premier League board approval.
Tony Pulis had been chasing the 32-year-old all summer and first approached him over a move to the Britannia Stadium back in May.
However, Owen wished to consider his options at the time and was reportedly holding out for a return to Liverpool, who were linked with their former goalscoring hero following Andy Carroll's loan move to West Ham United.
No offer from the Reds was forthcoming though, and Stoke pounced to snap up the poacher on a pay-as-you-play deal.
Owen has scored 40 goals in 89 England appearances, making him the fourth-leading marksman in Three Lions history.