Chairman Dejphon Chansiri has confirmed the club will consider offering Fernando Forestieri a new long-term contract if the striker maintains his fine form.
After an inconsistent start to the campaign, Forestieri has looked back to his best in recent weeks.
The 26-year-old has scored in each of his last two matches, taking his goals tally for the season to five.
Forestieri, a key figure in Watford’s promotion-winning side in 2015, penned a four-year deal when he moved to Hillsborough last year.
But speaking at Monday night’s Steering Group Meeting, Chansiri confirmed: “If he carries on showing commitment to the club, we will consider offering him a contract.”
Forestieri is expected to lead the line when the Owls welcome Preston North End on Saturday. Victory over the Lilywhites could move Wednesday back into the Championship’s play-off zone.
Carlos Carvalhal’s side will be looking to make a strong start to their December schedule, with three of the next four fixtures at Hillsborough.
“We are better than last season, the big difference was the efficiency but we have found a way to score goals,” insisted Carvalhal.
“The level of the football is very high, we are playing really very well and are in a very good way.
“I hope we can stay like this all season.”