The former England striker was released by Manchester United this summer, and a number of Premier League sides are thought to be weighing up offers for the veteran attacker.
The Midlands club have relied on Darren Bent for goals, and were exposed in attack last term when the experienced hitman was out of action for long periods with injury.
Villa are eager to bolster their squad after a below-par season in 2011-12, but the Scottish manager will not make a move for Owen, despite rumours to the contrary.
“No, that won’t happen,” Sky Sports have Lambert as saying.
“There was no enquiry from us, I don’t know where that one came from.
“That’s a non-starter. He’s a top player, no doubt, a really top player, but that’s for another team,” he confirmed.
Villa have already signed Karim El Ahmadi this summer, and are thought to be closing in on another Eredivisie star, Feyenoord defender Ron Vlaar.
By Gareth McKnight