Pulis is keen to sign the 32-year-old striker on a pay-as-you-play deal.
“I would love to sign Michael,” he told The Sentinel.
“If we can do it, we will do it, and do it on the basis that we did with Jonathan Woodgate and players like that.
“If he’s in the team he will get paid, and if he isn’t he won’t get paid so much.”
Owen is available as a free agent after his release from Manchester United at the end of last season.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.