Manchester City could open an 11 point gap if they pick up a win against United this weekend, but Owen does not think it will decide the title race.
Guardiola’s men are flying high domestically, and are the only team without a loss and head to Old Trafford this weekend.
Last season saw the Etihad club surge to the top, but Chelsea pipped them to the title and Owen expects pressure on the Manchester outfit.
“I think City were quite a few points ahead last season and didn’t go on to win it and actually Chelsea went on to win it at an absolute breeze, so definitely nothing is going to be decided so soon,” Owen told Omnisport, speaking courtesy of Hublot.
“City at the moment look brilliant. They score a lot of goals and look sterner at the back. Manchester United [have made] a massive step forward from last season as well.
“I thought last season even though they had a couple of trophies in the bag and qualification for the Champions League, I still watched them thinking there was more in the tank and I think this season they’ve looked a lot better.
“Obviously, they’ve been strengthened mainly down the spine of the team Ã¢â‚¬â€œ [Nemanja] Matic has been a brilliant signing.
“I think it will be a huge game but I don’t think it will be a decider so soon in the season.”