Potters frontman Owen, scorer of 40 international goals in 89 caps, announced this week he is to retire from playing at the end of the current campaign.
The 33-year-old will be departing Stoke in the same summer as Butland's career with them properly begins, with the goalkeeper having signed for the Staffordshire outfit in January from Birmingham but then returned to the Blues on loan for the rest of 2012/13.
Since that deal went through, though, Butland has been training with Stoke at regular intervals, and the 20-year-old is determined to take everything he can from his remaining time coming up against Owen at the club's Clayton Wood complex.
Asked about Owen, Butland said: "He is a fantastic player and he has proven over his career with his record that he is one of the best strikers that has ever played the game.
"It is a disappointment that I won't get the chance to work with him next year. But I am going to try to make the most of the time I get to spend training with him this season and take as much out of that as I can."
Butland was speaking at St George's Park, where he has been training as part of the England Under-21s squad ahead of their friendlies against Romania at Wycombe's Adams Park and Austria on Monday at Brighton's Amex Stadium.
He made his senior England debut in a friendly against Italy last August, having been a squad member for Euro 2012 and also featured for Great Britain at the London Olympics.