The Gunners head into the game against the Spanish champions looking to return to winning ways after the frustration of their goalless draw with Hull City in the FA Cup fifth round on Saturday afternoon.
Arsenal have not reached the Champions League quarter-finals since 2010 and are the heavy underdogs against the La Liga champions.
And although former England and Liverpool striker Owen is expecting to see the Gunners score on Tuesday night, he is backing Barcelona to take a first-leg lead back to Camp Nou.
Writing in his blog for Bet Victor, Owen said: “Arsenal have been knocked out of the Champions League at this last 16 stage in the last five seasons and it is hard to see past more Champions League heartache for the Gunners given the quality of opposition.
“The Catalan giants are playing football from a different planet at present and with the big three of Lionel Messi, Luis Suarez and Neymar all in top form it will be difficult for the Premier League side to keep the La Liga side out in their present form.
“That said, I expect Arsenal to score at The Emirates, just not as many as Barcelona!”
Arsenal are currently third in the Premier League table and two points behind leaders Leicester City heading into the final 12 games of the season.
They travel to Manchester United on Sunday afternoon.
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