Owen told the BBC's Access All podcast: "If I could give him my eyes and we could do a swap, I would. I would pay every cent I've got to make James see again."
The former Liverpool and Real Madrid striker also spoke about how the diagnosis has affected him as a father and the anguish of watching his son endure painful tests to determine his condition.
He added: "As a parent you just want everything to be perfect - and he is - but of course it was a sad time. Thinking about the future - will he be able to drive? Will he be able to work? All these things run through your mind.
"You're pushing your son forward to get something you know is going to be painful. It's just horrible to see. You want to take all the pain away."