Bastien Hery’s move to Rochdale makes him the first Owls player to sort out his future after the end of the season.
The 21-year-old winger or midfield player was a member of the Wednesday development squad but was not considered to be ready for Championship football.
Players who have been ahead of him in the Hillsborough pecking order have included Jermaine Johnson - whose own future has yet to be settled - Michail Antonio, Jeremy Helan, Kieran Lee and Danny Mayor.
He had a year in the Owls’ inaugural development squad but it is understood that, to be given a further deal, a player of his age would have had to begin challenging for a first-team place.
Hery is thought to have shown some talent and improved his game under Wednesday’s tutelage.
He was given a trial by Rochdale and is regarded by them as someone who can make an impact in League Two.
They will sign him on a one-year deal in July.
Dale and former Barnsley manager Keith Hill said: “He’s spent a year in the English game, which is an ideal pick-up for me because he is now integrated into British football, so there are no surprises for him.
”In the two weeks that he trained with us, he was excellent. He showed an excellent attitude, application and appetite and he’s got unbelievable ability.
“He wants to prove himself, he wants to play for me and he wants to play for Rochdale. That’s the type of player we want at this club.”
The Owls have yet to reveal whether all of their senior out-of-contract players will get offers or whether some will be released.
Some have expressed a wish to stay, including Jermaine Johnson, whose cameo first-half show against Middlesbrough helped to pave the way for victory.
The collection held by Sheffield Sports Commentaries at the Boro game raised £660 for the organisation’s commentary service for hospitals and the blind.