The Blues head into the game looking to return to winning ways at Stamford Bridge after they were held to a 1-1 draw by Stoke City in the Premier League at the weekend.
Chelsea are looking to book a fourth quarter-final spot in six seasons, and a seventh in the last 10 campaigns in the Champions League.
And former Liverpool striker Owen is tipping the Blues to progress through to the last eight, despite them losing the first leg in Paris last month.
Writing in his column for Bet Victor, Owen said: “I was in Paris with BT Sport for the first leg and wasn’t overly impressed by the hosts.
“With that in mind, I must admit I was surprised to see the discrepancy in prices between the clubs to qualify for the last eight given Chelsea’s away goal in Paris.
“It is sure to be a cracking atmosphere at the Bridge and 7/4 for the Blues to make the Quarter Finals is too big.”
Chelsea are unbeaten in seven home games against French opposition and have kept five clean sheets.
The Blues topped their group for the 10th time in their last 13 attempts, finishing as runners-up twice in that period. They won all three home matches.
MORE: The latest football news