The Foxes are flying high in the Premier League so far this season following an impressive return of 23 points from their opening 11 games.
Leicester have won their last four Premier League games at the King Power Stadium to build some serious momentum.
Brendan Rodgers’ side have scored 11 times in their last two games, including a record-breaking 9-0 win at Southampton.
Arsenal, meanwhile, are six points adrift of third-placed Leicester following a difficult run of results under Unai Emery.
The Gunners have squandered the lead in their last four games in all competitions to draw in 90 minutes.
Arsenal played out a 2-2 stalemate with Crystal Palace despite leading 2-0 at half-time before a 1-1 draw with Wolves at The Emirates last weekend.
Former Liverpool FC striker Owen is backing Leicester to beat Arsenal at the King Power Stadium on Saturday evening.
“Leicester’s win at Crystal Palace on Sunday lacked the fireworks of their record-breaking success at St Mary’s, but it was another professional performance from Brendan Rodgers’ side who continue to go from strength to strength,” Owen told BetVictor.
“James Maddison created eight chances for his teammates at Selhurst Park while Jamie Vardy became the first player to reach double-figures in the league so far this term.
“The pair have been outstanding so far this term although it seems churlish to single them out given how well the Foxes have played as a unit so far this season.
“Arsenal are likely to have their own opportunities at the King Power, but I think the hosts will keep all three points from what promises to be a cracker.”
Arsenal have conceded 15 times in 11 games in the Premier League so far, while Leicester have only leaked eight goals.
The Gunners haven’t won a Premier League game since their 1-0 home victory over Bournemouth at The Emirates on 6 October.
Leicester have the chance to beat Arsenal in a third consecutive top-flight home match for the first time.
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