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It is understood the Potters are set not to learn until Wednesday whether the move would be ratified by the Premier League board.
It was unclear on Tuesday night whether Stoke had provided the relevant documents for the signature of free agent Owen before or after the 4pm deadline for clubs to submitted their 25-man squad lists.
The uncertainty meant the Premier League were only able to release details of those lists for 19 of their 20 clubs, with the Potters' still pending.
It is understood Stoke would otherwise be prevented from filling Owen's spot with another player if his move was rejected.
Clubs are able to sign free agents outside the transfer window but are only able to field them in the Premier League if they have previously registered fewer than 25 players.
The Premier League said in a statement: "The Premier League board is currently considering an application from Stoke City to register a player and, subsequently, their squad list will be confirmed at a later date."
Stoke moved for Owen after he was released by Manchester United but the the 32-year-old appeared reluctant to entertain their advances amid suggestions he was waiting for a bigger club to pounce.
And although he was also linked with Liverpool and Sunderland, he insisted on Tuesday night he was "always keen to join" Tony Pulis' side.
After signing a one-year contract, he posted on Twitter: "Delighted to have signed for Stoke subject to Premier League approval.
"We have been in talks for a while and it was a club I was always keen to join.
"I'm particularly excited at the prospect of working under Tony Pulis.
"He has assembled a great squad that I look forward to joining.
"I'm now looking forward to contributing as much as possible to the club and can't wait to play in front of a great set of supporters.
"Thanks for your kind messages everyone. Can't wait to get going again!"
Stoke earlier announced an agreement had been reached with the former Liverpool, Real Madrid and Newcastle star on their official website.
"Stoke City have today won the race to sign England international striker Michael Owen on a free transfer, subject to Premier League Board approval," a statement read.
"The former Liverpool and Real Madrid hitman has penned a one-year deal at the Britannia Stadium, following his release from Manchester United at the end of the 2011/12 campaign."
Owen would become Stoke's seventh signing of the summer, following the arrivals of Jamie Ness, Geoff Cameron, Michael Kightly, Maurice Edu, Charlie Adam and Steven N'Zonzi.
Owen's time at United was dogged by injury problems but he scored 17 goals in 52 appearances during his three-year spell, including a famous winner in a 4-3 derby victory over Manchester City in 2009.
In total, Owen has scored 221 goals in 473 games in all competitions at club level, in addition to 40 goals in 89 appearances for England.
Source: http://network.yardbarker.com/soccer/article_external/stoke_awaits_owen_approval_from_bpl/11631223
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