With only six wins and 11 defeats from 24 games, the Owls have been fighting the drop all season.
After going unbeaten in five games recently, they've now lost consecutively to Everton in the FA Cup and Coventry in the league.
This has brought the side back down to earth and halted the momentum which appeared to be building.
Preston will be keen to pounce on this as the side is looking to ambush their way into the top half of the standings.
The Lilywhites are level on points with 10th-placed Blackburn Rovers. Meanwhile, Blackburn have a game in hand over them but remain a position adrift due to an inferior goal difference.
Following a run of three consecutive defeats which also saw them get humiliated by bottom-side Wycombe Wanderers 4-1 in the FA Cup, the Lancashire-based outfit have recovered slightly.
They beat Birmingham City 1-0 on the road before a goalless stalemate against fifth-placed Reading.
Sheffield Wednesday vs Preston North End Head-To-Head
In 113 meetings between the sides, the spoils are fairly even with Sheffield winning 43 times but Preston coming out on top on 45 occasions.
That tally includes the last three fixtures between the sides in the league, the last of which was a 1-0 win at home earlier in the season.
Sheffield Wednesday Form Guide (all competitions): W-W-W-L-L
Preston North End Form Guide (all competitions): L-L-L-W-D
Sheffield Wednesday vs Preston North End Team News
The home side have a clean bill of health going into the match. Manager Neil Thompson does not have any players suspended for the clash either.
However, Barry Bannan and Liam Palmer are one booking away from a ban.
Preston North End
The Lilywhites are also without any injury or suspension woes. However, midfielder Ryan Ledson is on four yellow cards and on the brink of a one-match ban.
Sheffield Wednesday vs Preston North End Predicted XI
Sheffield Wednesday (4-2-3-1): Keiren Westwood; Liam Palmer, Tom Lees, Julian Borner, Matt Penney; Joey Pelupessy, Sam Hutchinson; Adam Reach, Barry Bannan, Andre Green; Josh Windass.
Preston North End (4-2-3-1): Daniel Iversen; Alan Browne, Paul Huntington, Ben Davies, Joe Rafferty; Ryan Ledson, Ben Whiteman; Scott Sinclair, Jayson Molumby, Brad Potts; Emil Riis.
Sheffield Wednesday vs Preston North End Prediction
Sheffield are looking to win four consecutive home games for the first time since January 2016. They have won five of the last six games against Preston at the Hillsborough.
They will therefore be confident of causing another upset, although the Lilywhites have it in them to eke out a draw at least.
Prediction: Sheffield Wednesday 1-1 Preston North End