"Odell can't perform because the quarterback is not performing. So, they should basically replace the quarterback," the Hall of Famer tells TMZ Sports.

"I mean, if it was anybody else, any other quarterback, he would have already been replaced. So, at this point, give someone else an opportunity."

And, to the people calling Eli a "legend" -- Owens has a bone to pick with them too.

"He's won a couple of Super Bowls, but I wouldn't put him in the legendary status. I wouldn't put him in that legend status as of yet ... no disrespect."

Owens also says he's sick of people blaming Eli's offensive line -- saying other quarterbacks in the league have similar problems ... but elite players find a way to win.

"You have special players that are behind those not so great lines that can make something out of nothing. Eli's not one of those types of quarterbacks. He needs protection."

But, the bottom line for Owens -- "[Eli's] skills are pretty much eroding and he's not really giving the guys an opportunity."

One last thing, even though he's a Hall of Famer, 44-year-old Owens is trying to get a roster spot with the Buffalo Bills ... and he's even rocking the hat to curry favor with management.