Sheffield Wednesday started the 2016–17 season with a 1–0 win at home against recently relegated Aston Villa, thanks to a late Fernando Forestieri goal.

The Owls' run in the League Cup did not last long as they lost 2–1 at Cambridge United after extra time, with Lucas João scoring for Sheffield Wednesday.

After the international break, Sheffield Wednesday got their first win of the month against Huddersfield Town thanks to Fernando Forestieri's 68th-minute penalty which was the only goal of the game.

In the next game, a mid-week fixture, The Owls left the Cardiff City Stadium with a point after a 1–1 draw, with Daniel Pudil scoring the equalising goal.

A few days later, Gary Hooper's 40th-minute goal was enough for Sheffield Wednesday to get all three points in their home game against Queens Park Rangers.

In a game which saw three players dismissed (Forestieri for The Owls and Beckford and Doyle for Preston North End), Sheffield Wednesday managed to take all three points with a 2–1 victory, with Fernando Forestieri and Steven Fletcher on the score sheet, the latter scoring from a penalty kick after on-loan winger Will Buckley was fouled in the penalty area by opposition goalkeeper Chris Maxwell.

In The Owls' final game of 2016, Adam Reach scored a late equaliser against Preston North End, his first goal for the club.

A 1–1 draw away at Barnsley saw The Owls drop into seventh place for the first time in ten matches, although amends were quickly made with a 2–0 victory over already relegated local rivals Rotherham United, thanks to a brace from Steven Fletcher.

Following the game against Derby County, Sheffield Wednesday were in fourth place in the league table, their highest position in the whole of the 2016–17 season.

With The Owls' play off place confirmed, after the Ipswich game, a much changed starting line up was fielded in the 2–1 home loss to Fulham.

In the play-off semi finals, Sheffield Wednesday played against fifth-placed local rivals Huddersfield Town.