The former Dreams FC player moved to the MLS side from Israeli Premier League side FC Ashdod with the use of Targeted Allocation Money.
He signed a contract that will keep him at the club until 2022, with an option of extending it to a further year. The 22-year old will occupy an international roaster spot.
"I'm very excited to join Whitecaps FC, it's a great honour for me to wear the Blue and White and become part of the family," Owusu told the club's website.
"I would like to thank Mr Schuster and Mr Dos Santos for their efforts, and I can't wait to repay their faith in me with my play on the pitch."
Owusu joined Israeli side Ashdod FC from Dreams FC and played 59 times in all competition for the club.
Vancouver Whitecaps Sporting Director Axel Schuster praised the qualities of the Ghanaian and believes he will be a great addition to the Canadian club.
“Leonard is focused on improving and moving forward in his career step-by-step,” said Whitecaps FC sporting director Axel Schuster.
“He is from a very good academy in Ghana, performed well playing aboard in Israel, and now is the right time for him to take on a new challenge in Vancouver. His characteristics - strong, powerful, dynamic - fit the profile we look for in his position. We are looking forward to having Leonard join our group.”
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