Owen's club manager Tony Pulis last week called for players who dive to be given retrospective bans, following Luis Suarez's attempt to gain a spot-kick during Liverpool's recent clash with the Potters.
However, the 32-year-old, who last represented the Three Lions in 2008, has revealed he has simulated in the past.
"I’m totally against diving but I’d say that 75 per cent of people could stay on their feet for a penalty," Owen wrote on Twitter.
"I have been guilty as well, at the 1998 World Cup I was running flat out, got a nudge, went down. Could I have stayed up? Yes probably."