Coach Mark Richt said Sunday that Owens tore the anterior cruciate ligament in his right knee in Saturday's 45-21 win over Georgia Southern.
Georgia lost offensive tackle Trinton Sturdivant for the season to a knee injury before the season.
Owens, a senior, started every game last season.
Richt said Owens has been scheduled for reconstructive knee surgery on Sept. 9 and plans to return for his fifth year of eligibility in 2009.
Corvey Irvin, another senior, is expected to start in Owens' spot against Central Michigan next Saturday.