The Magpies enter at this stage of the competition while their third-tier hosts have already seen off Morecambe and Mansfield Town to earn their tie with top-flight opposition.
Match preview
Alongside their bid to return to the Championship at the second time of asking this season, Sheffield Wednesday began an FA Cup campaign with a home first-round tie against Morecambe at the beginning of November and prevailed with a 2-0 victory courtesy of goals from Josh Windass and Alex Mighten to book a contest with fourth-tier Mansfield Town.
That tie also took place at Hillsborough, and the Owls would go 1-0 down as George Lapslie put their visitors ahead in the first half, only for Michael Smith to hit a brace in the final 15 minutes to ensure Darren Moore's side came out on top and booked their toughest game of the season thus far at home to Newcastle.
They certainly head into the game in impressive form, having now climbed up to second spot in League One with an unbeaten run standing at 13 matches, and the Owls have quickly bounced back from three straight draws with back-to-back wins coming into the weekend, firstly beating Fleetwood Town 2-1 on Boxing Day before quickly seeing off Port Vale.
Hoping to make it three on the bounce and leapfrog Ipswich Town in the race for automatic promotion, the Owls took on Cambridge United in their most recent outing on Monday, and they took another three-point haul in impressive fashion, as Windass opened the scoring early on and Smith hit another double before the former completed a hat-trick in the second half to wrap up a 5-0 triumph.
Now briefly turning their attention away from their league pursuits with the hopes of advancing to the FA Cup fourth round for the fifth time in the last six seasons, Moore's side will look to pull off a major upset on Saturday at home to Premier League opposition.
They face a particularly tough test, though, as the visitors are aiming to add to their eye-catching Premier League season with another cup run, with Eddie Howe's side currently sat third in England's top flight.
Their lofty position is largely due to an eye-catching defensive record, with no other team in the league conceding as few as the 11 goals that they have shipped in 18 matches thus far, while the Magpies now find themselves unbeaten in their last 12 top-flight outings since their only defeat of the season thus far.
Saturday's visitors are also without a defeat in their four matches since returning from the World Cup break, firstly booking their place in the EFL Cup quarter-finals with a 1-0 home win over Bournemouth, courtesy of an Adam Smith own goal, before dishing out a 3-0 beating to Leicester City away from home on Boxing Day as Chris Wood, Miguel Almiron and Joelinton all found the net in the first half.
Then on the back of a somewhat disappointing stalemate at home to Leeds United, the Magpies most recently faced the unenviable test of a trip to league leaders Arsenal on Tuesday, and they stood strong to see out a goalless draw, returning home with a creditable point as a result and ending the Gunners' perfect home league record this season.
Such a result leaves Newcastle third in the top flight and within touching distance of Manchester City, and with an FA Cup tie and their EFL Cup quarter-final looming in the next week, Howe's men will briefly turn their attention away from the league and bid to advance in the cup competitions with the aim of cruising past their League One hosts at the weekend.
Sheffield Wednesday FA Cup form:
W
W
Sheffield Wednesday form (all competitions):
D
D
D
W
W
W
Newcastle United form (all competitions):
W
W
W
W
D
D
Team News
Key Sheffield Wednesday midfielder Barry Bannan missed the Cambridge United contest with a new injury concern, and the captain is unlikely to return in time to feature on Saturday, likely leaving George Byers and Will Vaulks to partner up in the engine room, potentially alongside Fisayo Dele-Bashiru if the Owls opt to set up in a more compact manner.
Michael Smith should again lead the line after firing them into the third round with a brace against Mansfield, and the summer signing took his tally to 10 goals for the season in all competitions with another double in the recent win over Cambridge.
He will be supported by Josh Windass, who netted a hat-trick in that match, while Moore will likely stick with a back three of Liam Palmer, Mark McGuinness and Reece James.
Having rarely made many changes to his Newcastle team throughout the Premier League season thus far, Eddie Howe will likely use Saturday's tie as an opportunity to give chances to some players who have struggled for regular starts, with the likes of Chris Wood and Jacob Murphy expected to feature from the outset in Yorkshire.
Allan Saint-Maximin is also likely to feature, with the winger having only made substitute appearances since the Magpies' return from the World Cup break, with key front men Joelinton, Callum Wilson and Miguel Almiron all set to be rested.
In the continued absence of the likes of Emil Krafth, Matt Targett and Paul Dummett, Jamal Lewis and Javi Manquillo should come in in full-back roles to allow rests for key players like Kieran Trippier, while Jamaal Lascelles should also come in to join either Sven Botman, Fabian Schar or Dan Burn in the middle of a back four.
Sheffield Wednesday possible starting lineup:
Dawson; Palmer, McGuinness, James; Mighten, Byers, Vaulks, Dele-Bashiru, Johnson; Windass, Smith
Newcastle United possible starting lineup:
Dubravka; Manquillo, Burn, Lascelles, Lewis; Longstaff, Anderson, Willock; Murphy, Wood, Saint-Maximin