The two players both hail from west Wales, are fluent Welsh speakers, and play for the Llanelli-based Scarlets.
They were honoured for their roles in enriching Welsh culture.
Centre Davies and hooker Owens – who are both British & Irish Lions – took time away from their World Cup preparations to attend the ceremony.
VIDEO: Watch the players – and their coach Robin McBryde – discussing the proud moment in Llanrwst here.
“It was a huge honour to come up and be honoured into the Gorsedd with all the history and tradition,” said Davies, who has 73 Wales caps.
“Having not known much about how the ceremony went it was great to be a part of and a great experience for me.”
Owens added: “There is a history between Welsh rugby and the Gorsedd with people such as Robin McBryde and Ray Gravell.
“George North and Jamie Roberts as part of it as well so that history between the two is huge.
“It’s something important to keep going and keep celebrating.”
Members of the Gorsedd are known as druids and are selected “for the way in which they have embraced and cherished the Welsh language and for their role in enriching our culture”.
