Owen, 32, is a free agent after leaving Old Trafford earlier in the summer and has been linked with a number of clubs, including Stoke.
Crouch believes a move to the Potters would be good for Owen after enjoying his own first year under Tony Pulis last season.
He recognises that it is a difficult decision but insists Owen should not be put off by the fact that Stoke are not challenging at the top of the table.
"Coming to Stoke was never a step down," Crouch told The Sun.
"I was really happy the manager could give me games when I was in and out of the Tottenham side.
"I'd rather play a big part in something smaller than be a small part of something bigger.
"I know Michael has a big decision to make after leaving a club the size of Manchester United - but I had a similar decision to make last summer.
"At Tottenham, we were challenging for a Champions League place every season. We're not doing that at Stoke but we are building something worthwhile here."
Owen has not started regularly for Manchester United over the past couple of years but Crouch is convinced that he could be successful at Stoke and says the supporters would relish the chance to see him in action.
"If you want to play regular football and enjoy playing again, this is a great place to be," explained Crouch.
"Michael will obviously make his own decision but a player of that calibre would be fantastic to have around the place.
"And the fans will absolutely love him. They were amazing with me when I first signed and they're still great with me now."
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