Goals from Patrick Bamford and Harrison Burrows sealed the Owls' fate in a game that saw plenty of drama.
Charlie McNeill netted what proved to be a consolation for Wednesday, while both clubs had players sent off after Kalvin Phillips and Gabriel Otegbayo were dismissed.
Their relegation is the earliest recorded of any club in English football history, and the first to happen in February.
They currently sit bottom of the Championship on minus seven points following two separate deductions for being placed in administration and breaching EFL financial regulations - although Henrik Pedersen's side haven't won a game since September.
Wednesday were also placed under multiple transfer embargos throughout the campaign and have only been able to sign loan deals or free transfers.
A horrific 2025/26 campaign
The Owls have endured a torrid time since the end of last season, being charged with multiple breaches of EFL regulations at the beginning of June 2025.
Wednesday were placed under a registration embargo just two days later which prevented them from adding any new players to their squad - a month later, several current players handed in their 15-day notices after not being paid for the second month in a row.
The late payment of wages continued through to September and controversial owner Dejphon Chansiri eventually confirmed he would sell the club, and by October 2025, they were placed into administration.
That brought on an immediate 12-point deduction, which was followed by a further six points at the start of December for breaching regulations related to payment obligations.
A consortium was announced as the preferred bidder later that month.