Owen, who is out of contract at the end of the season, has been offered a new deal by the club.
But the former Liverpool and Real Madrid star insists he will wait until the end of the season to make a decision on his future.
The 29-year-old said: “I have decided to make it clear that I am committed to the club until at least the end of this season.
“I’ve informed them I do not want to make a decision about my future until that time.
“I hope this will be seen as a positive step and not seen as being disloyal in any way.
“I’m happy here and enjoy the challenge. It’s simply a matter of seriously thinking about my future. I was 29 last week and my next career decision’s crucial.”
He added: “My decision is not about money.
“I told the club some months ago I’d accept a wage reduction. I have no intention of leaving during the January transfer window.
“And I want to assure the fans that under Joe Kinnear’s passionate management I am committed with the rest of the players to ensure that the club ends the season on a high.”
Owen has been linked with Everton and Manchester City.
