The Black Cats finished the season strong, finishing unbeaten in their final 13 games to place fifth in the table, securing their spot with a 1-0 victory over Morecambe last weekend.
The Owls surged late, winning four of their final five and only losing once in their final 11 contests to finish fourth after only once appearing in the top six between September and late February.
Manager Alex Neil has a full squad to choose from with the lone exception being Nathan Broadhead, who is facing a late fitness call after coming off against Morecambe with a muscle injury.
Midfielder Carl Winchester has suffered a setback in his recovery from injury and it’s feared he could miss the rest of the season.
Barry Bannan suffered a hamstring injury last weekend and is questionable to feature here.
Ciaran Brennan is making good progress and has returned to training, while Dominic Iorfa is also making excellent strides in his recovery, though this semi-final clash will come too soon for the defender.
Ones to watch
Nathan Broadhead (Sunderland)
It's questionable as to whether he will play, but the on-loan Everton man is vital to the Black Cats' attack, scoring four goals in his last five appearances.
Lee Gregory (Sheffield Wednesday)
He's been in incredible form recently, scoring six times in his last five matches, including a hat-trick against Fleetwood Town and the equalizer last week against Portsmouth.
Sunderland and Sheffield Wednesday split their two meetings, which came within a month, with each team winning at home.
Two days out from New Year's Day, the Black Cats dominated, winning 5-0 as Ross Stewart grabbed a brace inside of 36 minutes.
Callum Doyle grabbed a third before Stewart completed his hat-trick on 58 minutes. Benjamin Mbunga-Kimpioka rounded out the scoring with a quarter of an hour left.
How to watch
The match will be televised by Sky Sports Football and Sky Sports Main Event with coverage beginning at 19:00 BST. Kick-off is set for 19:45.