The former Toffees striker recommends taking the free agent on to help out Nikica Jelavic and provide an extra attacking option at Goodison Park
The England international was released by Manchester United at the end of last season and as such is available on a free transfer.
Owen is no stranger to Merseyside, having come through the Liverpool academy to spend 8 years at Anfield before a move to Real Madrid materialised.
And Toffees favourite Sharp has urged manager Moyes to add Owen to his attacking options, which have already been strengthened by the free signing of Steven Naismith.
Sharp told TalkSPORT: “Up front is somewhere Everton need to look to strengthen. If Jelavic got injured we would be really light up top for a goalscorer.”
Jelavic has been a revelation in a once struggling attack since joining from Rangers in January, netting 11 times in only 13 appearances, and Sharp believes Owen could provide adequate back up for the Croat.
“That was the problem last year at the beginning of the season, we couldn’t score goals,” he added.
“Jelavic addressed that problem but we need back-up and that is why the name of Michael Owen has come up in conversations."