It is the first time the striker, scorer of 40 goals in 89 appearances for England, has partnered with a drinks company.
Spey, which is made by Speyside Distillers Company, is already well established in Taiwan and is making more of a push into other parts of south east Asia including China.
Speyside Distillers recently took on £4.3 million of funding from Clydesdale Bank and intends to use part of that to lay down more stock in anticipation of a continuing growth in demand. Mr Owen is expected to make a number of trips to the Far East as part of his agreement to represent Spey. A limited edition Michael Owen branded whisky is to be released later this year.
Mr Owen said: "Since I retired as a professional footballer I have been able to enjoy some of the finer things in life and enjoying a glass or two of Spey whisky is certainly a little treat I afford myself on occasion.
"I am really looking forward to helping promote such a prestigious brand, particularly in Asia where I am happily spending more and more of my time these days." John McDonough, chief executive of Speyside Distillers, said: "We are thrilled to be working with Michael, a true icon of international football as well as a great family man.
"Spey is an increasingly iconic brand, especially in international territories. We are also a family business, so the fit could not be better."