The Owls academy product has made big strides at Hillsborough, having regularly impressed at Under-18 level and now in the Development Squad.
Dawson spent time on loan with Plymouth in 2013/14 and played 17 games on loan for Alfreton in 2014/15.
His progress at Hillsborough has seen Dawson earn international recognition with England at Under-18 and Under-19 level.
Dawson enjoyed a short term loan spell with League 2 side Wycombe Wanderers in August 2016.
He made two appearances for the Adams Park club, making his senior league bow in the process.
He achieved another career landmark when in October 2016 he made his Wednesday, and Championship, debut against Brighton at Hillsborough.
The young shot stopper has made four appearances for the Owls in total.