The 33-year-old striker has made five appearances for the Potters this season following a free transfer from Manchester United.
"There is absolutely no chance of Michael [Owen] going out on loan," Pulis told reporters.
"He needs game time but I didn't think it was right to bring him on against [Crystal] Palace on Tuesday.
"As a manager you have to make these decisions, irrespective of how big a name he is."
Stoke travel to Swansea City in the Premier League on Saturday.