The 29-year-old midfielder has been handed the armband by new boss Grant McCann and takes over from Rovers veteran James Coppinger.
Andy Butler remains club captain.
McCann said: “I spoke to Copps and he was pleased really, he said he was going to come and see me.
“He didn’t really want the responsibility this year. That was nice because I didn’t really have to explain it any further to him.
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“But it’s more about Copps just concentrating on his game.
“I know Rowey. He’s been a captain at Peterborough, he’s been a successful captain. He won the Johnstone’s Paint Trophy and got to the semi-finals of the play-offs as captain with Peterborough.
“A captain’s a captain. I think we’ve got loads of leaders in the changing room: Marquis, Butler, Coppinger, Rowe. They all can lead.
“Rowey will wear the armband and Butts will continue to do what he does because what he does, not only on the pitch but off the pitch, is brilliant.”
Coppinger, who is entering his 15th season with Rovers, posted on Twitter: “My time as captain of @drfc_official has come to an end, it has been an absolute honour and a privilege to lead a club that means so much to me. Thank you for all your support.”
Rowe joined Rovers two years ago following a successful loan spell.