Premier League defeat to Arsenal at the Emirates on Saturday.
Footage shows Owen attempting to punch Arteta after the Spaniard’s tackle on the Stoke striker.
The pair shook hands after the incident flared up, however the FA will look at the referee’s report before deciding whether or not they will take action against the ex-England striker.
Potters’ manager Tony Pulis told the Daily Mail, “I thought the Arteta challenge was a poor one but Michael shouldn’t do that.
“If Michael has done what he has done and they look at it, they will deal with it.”
Arsenal boss Arsene Wenger did not see the Owen incident so did not comment.