The two sides will meet at the Stadium of Light for the first leg on Friday, before facing each other again at Hillsborough three days later.
Sunderland beat Wednesday 5-0 when the teams last met on Wearside in December – although the Owls were recovering from a Covid-19 outbreak – while Darren Moore’s side won 3-0 in November’s reverse fixture.
When asked about this season’s matches, studio guest Ali Maxwell from the Not The Top 20 Podcast said: “It sounds like we can expect some pretty entertaining games between these two. The atmospheres are going to be incredible.
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“Clear your diaries for next week because this is an absolute treat.
“What a league League One has been this season, we have been treated at the top of it and we get some extra games as well.
“I can not wait for next week!”
Wednesday came from behind to win 4-1 against Portsmouth on the final day of the regular season, while Sunderland won 1-0 at Morecambe to set up a meeting with the Owls.
Former Crystal Palace striker Clinton Morrison added: “It’s mad and it’s a big game.
“What did Sheffield Wednesday get today? 33,000, that will be a sellout at Sheffield Wednesday. Huge football club.
“And Sunderland at the Stadium of Light, huge football clubs and it’s going to be a great occasion
“I can’t call who is going to win that.”
“Bannan has to be alright because he’s key for Sheffield Wednesday,” said Morrison.
Maxwell then added: “I would say the same about Broadhead, look at how slick he is in front of goal.
“Some of the finishes recently have been sensational but he’s found it so hard to stay fit.
“They’ve got Ross Stewart as well up top and if they have both of them they are going to be going into the play-offs in very good shape, unbeaten in 13.
“Alex Neil has just settled everything down ready for these play-off games.”