The Owls were knocked out of the Carabao Cup on Wednesday night, losing 2-0 at Premier League Fulham.
First half goals from Aboubakar Kamara and Bobby Decordova-Reid did the damage in an entertaining Craven Cottage clash.
Wednesday did carve chances of their own but failed to capitalise, which is exactly what Fulham achieved for Scott Parker to guide his side to round four.
An early breakthrough certainly helped the cause and arrived just nine minutes in. A headed ball over the top from ex-Owls loanee Michael Hector was seized upon by Anthony Knockaert, who advanced on goal to square for Kamara to roll into the net.
Wednesday regrouped swiftly seeking a route back into the tie and almost found it on 21 minutes.
Adam Reach unleashed a wicked shot from distance that caused problems for Marek Rodak, who punched with some relief to safety.
The Owls went closer still three minutes later after good work down the flank from Moses Odubajo resulted in a great chance for Fisayo Dele-Bashiru but Rodak was equal to the low shot.
Fulham responded with Antonee Robinson forcing a fine Joe Wildsmith save at full stretch before the Londoners doubled their lead on 33 minutes.
Another former Owls loanee, Josh Onomah, drilled over a low feed from the left and Decordova-Reid was on hand to stab home from close range at the back post.
Wednesday hit back themselves five minutes shy of half time when Rodak again came to the rescue, this time to keep out a stinging Odubajo drive on the angle.
Still there was time for Decordova-Reid to sky a decent opportunity over the crossbar but his side went down the tunnel in the ascendancy, even if the two-goal cushion was arguably flattering.
The Owls were first out of the traps for the start of the second period and Odubajo brought Rodak into action straight from the resumption.
Fulham soon found their rhythm, though, and began to dominate possession, particularly in the engine room. One four-man move ended with Decordova-Reid bursting in on goal only to be thwarted by Wildsmith.
Knockaert then had a clear chance to put the contest to bed but screwed wide and the same player struck the top of the crossbar moments later with a clever chip.
The hosts pinned Wednesday back through the closing stages and if there was a doubt over who deserved the first half plaudits, the same could not be said for the second as Fulham comfortably saw the game out.
Wednesday: Wildsmith, Palmer (Penney 71), Brennan, Shaw, Odubajo, Börner, Pelupessy, Waldock (Rhodes 79), Dele-Bashiru, Kachunga (Hagan 82), Reach