Owen, who made his name at Liverpool before joining Real Madrid, has signed a one-year deal following his release from Stoke's Premier League rivals Manchester United at the end of last season.
He has enjoyed an impressive career, scoring 221 goals in 473 appearances.
But the 32-year-old's career has been blighted by a series of injury problems and he has started just one Premier League match in the last two seasons.
And it is that fitness record which has led to reports, still to be confirmed by Stoke, that he has signed on a pay-as-you play deal.
Owen becomes City's seventh signing of the summer, following the arrivals of Jamie Ness, Geoff Cameron, Michael Kightly, Maurice Edu, Charlie Adam and Steven N'Zonzi.
For England, Owen scored 40 goals in 89 appearances, including a hat-trick against Germany in a 5-1 victory just over a decade ago.
Source: AFP
Source: AFP