The 32-year-old is available on a free transfer following his release by Manchester United.
Al Shabab have confirmed they are holding talks with Owen’s management team over a move.
Al Shabab announced via Twitter: “Michael Owen has been identified as a candidate to play for Shabab next season and we are in negotiations with his management team.
“The player’s agent is in Dubai to close the deal.”
A spokesman for the club added: “We are in talks with the player and his agent, but no agreement has yet been reached between the parties.
“Things should become clear soon.”
