The north London side head into Saturday lunchtime’s game on the back of a miserable run of form which has seen Arsene Wenger’s men win only one of their last eight matches in all competitions.
Arsenal were knocked out of the Champions League on Wednesday night as they slumped to a 3-1 defeat by Barcelona at Camp Nou.
That loss followed their FA Cup elimination at the hands of Watford at The Emirates last weekend.
The Gunners now only have the Premier League to play for as they desperately try to rescue their season.
Arsenal are currently 11 points behind leaders Leicester heading into Saturday’s game.
And former Liverpool striker Owen is expecting to see the Toffees deal a fresh blow to their title hopes on Saturday.
Writing in his column for Bet Victor, Owen said: “I was really impressed by Everton last weekend and think Roberto Martinez’s side fully deserve their place at the head of the market in the betting for the FA Cup.
“The Toffees will be difficult to beat if replicating that level of performance against Arsenal at the weekend and look an excellent price at 17/10 to turn the Gunners’ over on Merseyside.
“Arsenal were favourites for the Premier League title after their last-gasp 2-1 defeat of Leicester but have struggled thereafter – turned over 3-1 at the Nou Camp in midweek and with just one win from their last eight games in all competitions.
“Romelu Lukaku should prove a constant threat to an Arsenal defence that has failed to keep a clean sheet in any of their last six games and looks the most obvious candidate to fire the Blues to victory.”
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