Owen underwent knee surgery on Thursday, and he will face a further operation to repair and reconstruct his cruciate knee ligament.
The 22-year-old back, who has made 50 appearances for the Swansea-based side, was a key part of Ospreys' plans for the new campaign.
"It was a bit of a freak accident resulting in him twisting his knee, sustaining a substantial injury," said Ospreys physiotherapist Chris Towers.
"As a result of this he will, in all likelihood, be out of action for the whole of the 2011-12 season.
"Thursday's operation was the first part of what will be a two-stage surgical procedure to repair the damage and then reconstruct the cruciate ligament."
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.
