Owen, who is currently on a break from the BBC One soap, is expected to join a rumoured lineup of Tara Reid, Pamela Anderson, Amy Childs and Jedward.
Big Fat Gypsy Weddings star Paddy Doherty, Sally Bercow and Steve Strange are also likely to be on the Channel 5 reality series.
Owen's previous reality TV experience includes a stint on I'm A Celebrity, where he finished third behind Carol Thatcher and Sheree Murphy.
The soap actor also famously had a brief pop career when he recorded a cover of Sugar Minott's 'Good Thing Going' in 2000. Despite reaching number 14 in the charts, his recorded follow-up was never released.
Celebrity Big Brother launches on Thursday, August 18 at 9pm on Channel 5.
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