Yes, it makes perfect sense, it's correct grammar and good English. Usually we would say "this book is mine", but if you are in a situation where you're talking about other books and you want to make it very clear the one of them is yours and you point it out, you would "this book is my own", all those other books belong to the library (for example) - "my own" emphasises your ownership.

I think its not good, this book is mine is better, just FYI, looking forward English native reply

It will be better if you say: This book is mine.

As Prof B says, yes it is fine to say "this book is my own" but depending on the context, it is more usual to say "this book is mine".