Owen is only the sixth British player in the history of the award to take the prize, while David Beckham finished fourth.
The award is given by France Football magazine and is voted for by football journalists from all over Europe.
Owen beats Kahn again
It is strange that Kahn took third place, since he was in goal for Germany when Owen scored a hat-trick in England's famous 5-1 win in Munich.
For Raul it was his second top three finish in a major football award in the same day.
Earlier he saw teammate Luis Figo take the Fifa World Player of the Year award ahead of Beckham and himself.