Conor Chaplin’s goal right on half time decided the battle of last season’s League One promotions rivals.
The Owls and Ipswich went head-to-head at Hillsborough and the Suffolk side deservedly took the spoils.
Town created more in front of goal overall and were good value for a victory that extends their excellent start to the season to five wins from six.
A balanced beginning saw both teams feel each other out until the 15-minute mark when Ipswich broke ranks and almost took the lead.
Wes Burns raced down the right and squared nicely for the onrushing Freddie Ladapo, whose shot was true but so too was the save from Devis Vasquez.
The main Ipswich threat came from the same source as Burns caused concerns with his pace.
Vasquez came to the rescue again eight minutes before half time, going down low to beat out a fierce Burns strike on the angle.
But it was from the left that Town made the breakthrough on the stroke of half time. Nathan Broadhead motored down the wing, advanced into the box, and looked up to pick out Chaplin, who drilled into the Kop net.
Wednesday made two changes at the break, introducing new recruit John Buckley and Ashley Fletcher.
But the Tractor Boys stayed in the box seat and again Vasquez shone moments after the restart.
Woodhead was again the architect, delivering a dangerous corner that Harry Clarke glanced goalwards but Vasquez sprang left to parry clear.
That sparked a mini period of pressure from Wednesday that forced Town further and further back.
But the visitors sucked it up and sought to put the game to bed at the other end.
And twice inside a minute, substitute George Hirst had chances to do exactly that but fluffed his lines.
First the ex-Owl got in behind the defence to advance on goal but chipped over the top, then when he did find the target with a low drive, Vasquez was equal to it.
Wednesday forced the pace in the closing stages but, a string of corners aside, Ipswich never really looked troubled and comfortably saw out the contest.
Vasquez, Paterson, Iorfa (Bernard 29), Palmer, Famewo, Delgado, Byers, Hendrick (Musaba 74), Windass, Gregory (Buckley 46), Smith (Fletcher 46)