The hosts sit six points clear of the relegation zone after the postponement of their contest last weekend, while the Owls remain just outside of the automatic promotion places following three consecutive draws.
Match preview
Fleetwood Town endured a relatively slow start to the League One season, as back-to-back defeats in mid-October left them on 16 points from 14 outings, but they have since enjoyed a noticeable improvement, adding a further 10 to their tally in seven more attempts.
In that time, Scott Brown's side have only suffered one defeat, a narrow 2-1 beating at home to Bolton Wanderers, but they bounced back in a difficult trip to promotion-chasing Ipswich Town at the beginning of December.
The second-placed side looked set to take all three points as they led 1-0 through Luke Woolfenden's early goal, but Cian Hayes would find the net deep into injury time to force a share of the spoils at Portman Road.
Hoping to build on that commendable point and move further away from the relegation zone, Fleetwood then travelled to MK Dons and again scored a decisive late goal, as Daniel Batty popped up in the 90th minute to seal a 2-1 win after Carl Johnston had drawn them level 20 minutes from time.
After the weekend's scheduled game at home to Cambridge United was postponed, Brown's side will come into the Boxing Day contest relatively well rested and with a healthy six-point lead over the bottom four, but they face a tough test against a Sheffield Wednesday side vying to break into the automatic promotion places.
Darren Moore's team enjoyed a particularly impressive start to the season in England's third tier, and while they have rarely occupied a spot in the top two, the South Yorkshire outfit have consistently kept pace with leaders Plymouth Argyle and Ipswich as they amassed 40 points from their opening 19 games.
That was partly thanks to three straight victories in League One, culminating in a 1-0 triumph over Shrewsbury Town at Hillsborough in mid-November, but they were unable to stretch the run any further in the following outing away at Derby County as the contest ended in a stalemate.
The Owls then looked set to fall to a 1-0 defeat away at Exeter City, only to snatch a point in the dying embers through Callum Paterson, before weathering a storm at home to Oxford United last weekend, with goalkeeper Cameron Dawson denying an injury-time penalty to ensure the match ended goalless.
While they may not have impressed by their own standards in recent weeks, Moore's side do remain just two points outside of the top two after Ipswich's defeat last time out, while the consecutive draws have taken an unbeaten run in the league to 10 matches, having only lost three third-tier games all season.
They will now focus on returning to winning ways on Monday with the chance to leapfrog the Tractor Boys and climb into the top two with a win if other results go their way.
Fleetwood Town League One form:
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D
D
L
D
W
Fleetwood Town form (all competitions):
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D
L
W
D
W
Sheffield Wednesday League One form:
W
W
W
D
D
D
Sheffield Wednesday form (all competitions):
W
W
W
D
D
D
Team News
Fleetwood Town will remain without defender Josh Earl, as he continues to serve a suspension after being sent off late in the draw with Ipswich, and the back four of Shaun Rooney, Aristote Nsiala, Harrison Holgate and Carl Johnston should remain unchanged in his absence.
Midfielder Daniel Batty will be pushing to feature from the outset, after he netted the 90th-minute winner off the bench last time out, while experienced striker Joe Garner is also fighting to return to the starting XI.
Sheffield Wednesday captain and key midfielder Barry Bannan missed the Oxford United contest through injury, and he could again be absent on Boxing Day, as could George Byers, who is continuing a recovery from a long-term issue, leaving Will Vaulks, Tyreeq Bakinson and Fisayo Dele-Bashiru to fight for spots in the engine room.
Cameron Dawson has been preferred in net over David Stockdale in recent weeks, and he will keep his spot after keeping a clean sheet and saving a penalty last time out, while Cardiff City loanee Mark McGuinness will continue to play an important role at the back.
There is also competition for spots in attack, and Josh Windass is likely to play a key role while the likes of Lee Gregory, Michael Smith, Callum Paterson and Mallik Wilks are all vying to lead the line.
Fleetwood Town possible starting lineup:
Lynch; Rooney, Nsiala, Holgate, Johnston; Vela, Batty, Warrington; Mendes Gomes, J Garner, Morton
Sheffield Wednesday possible starting lineup:
Dawson; Iorfa, McGuinness, James; Palmer, Vaulks, Bakinson, Dele-Bashiru, Johnson; Windass, Smith