Glenn Loovens could make a debut for the Owls at Blackpool if the formalities surrounding his signing are completed in time.
Agreement has been reached with the centre half on a short-term contract but Wednesday must wait for international clearance from the Spanish FA before he can play for them.
The 30-year-old played for Real Zaragoza in Spain last season but has been training with the Owls recently as a free agent.
Loovens played under Dave Jones at Cardiff and was a team-mate there of Owls centre back Roger Johnson.
Jones needed to bring in another centre half after Kamil Zayatte joined fellow centre backs Martin Taylor and Anthony Gardner on the injured list.