In his Daily Mail column, the former Ballon d’Or winner said he has completely changed his view of Kane, praising him as a model of relentless work rather than pure natural talent.
However, he also criticised the England captain’s decision to leave the Premier League for Bayern Munich, arguing it was a mistake in terms of legacy.
"The older I get, the more I realise I was wrong about strikers - and Harry Kane is an example of why I have changed my mind," Owen wrote.
"Now this might sound ridiculous given everything Harry has achieved, but I don't think he was born to become the player he is today.
“That, as much as anything, is why I love him. That is why, without hesitation, I call him England's greatest-ever striker."
Owen claimed that dominating in what he described as a “very ordinary” league does not carry the same challenge or prestige as breaking the Premier League’s all-time scoring record would have done.
"My one gripe with Harry is the move to Bayern Munich," he added.
"I said it at the time and I haven't changed my mind. I understand the benefits, and England will hopefully see that in the next few weeks .. But in terms of his career, he is better than the Bundesliga."