It was a tale of two penalties at the Memorial Stadium as the Owls returned from their final away game of the season with a well-earned point.
And for the second successive game, Wednesday had a hand in the relegation shake-up as Bristol Rovers all but followed Swindon into League 2.
With results elsewhere going against them, Rovers needed a win but could only draw in the South West sunshine as Will Hoskins' penalty cancelled out Tommy Miller's spot-kick for the Owls.
With so much riding on the contest for the home side, a good start was key - but only the opposite unfolded.
Inside two minutes, Danny Coles tripped Gary Madine in the area and the referee pointed to the spot. Miller stepped up to do the honours for the Owls in emphatic style from 12 yards.
But on 12 minutes, Rovers were right back in the game and this time with a penalty of their own.
Lewis Buxton brought Wayne Brown down on the edge of the box and referee Dave Foster had no hesitation in giving the penalty. Top scorer and captain Hoskins made no mistake from the spot.
The hosts then enjoyed a spell in the ascendancy and almost made it count on 22 minutes.
Gary Sawyer swung a deep corner over to the far post and Byron Anthony's header was firm but bounced back into play off the crossbar.
Jo Kuffour then nodded narrowly wide from Chris Lines' free kick but Wednesday weathered the storm and grew more into the game as half time approached, albeit without causing the Rovers defence too many problems.
James O'Connor slashed one shot wide and Neil Mellor came close to getting something on a Gary Teale cross but keeper Conrad Logan's only involvement in the first half was picking the ball out of net early on.
Counterpart Nicky Weaver, though, was far busier and not least on the stroke of half time when he dived spectacularly to tip over a rasping drive from Lines.
Rovers bossed possession after the resumption and the Owls struggled to get the ball out of their own half, leading to a double substitution from boss Gary Megson.
Jermaine Johnson and Chris Sedgwick were introduced, with Teale and O'Connor making way.
The move paid dividends in terms of possession as Wednesday saw more of the ball and came close to taking the lead midway through the half.
Madine took advantage of a defensive mix-up to feed Tommy Miller, who shot wide with Logan scurrying back to his line.
Rob Jones then came within a whisker of applying a finish to Miller's curling free kick before Rovers hit back with Hoskins forcing a fine save from Weaver.
Wednesday might have had another penalty in a frantic finish when keeper Logan upended Mellor before the final action of note came two minutes from time when Weaver dived low to keep out a set piece from Lines.
Rovers: Logan, Sawyer (Howe 83), Coles (Clough 73), Anthony, Senda, Williams (Swallow 78), Lines, Kalala, Brown, Kuffour, Hoskins
Unused substitutes: Green, Lambe, Pell, Ifil
Owls: Weaver, Otsemobor, R Jones, Batth, Buxton, Teale (J Johnson 60), O'Connor (Sedgwick 60), Miller, Palmer (Potter 77), Madine, Mellor
Unused substitutes: O'Donnell, D Jones, R Johnson, C Morrison