Senior joins Wednesday on an advisory basis and will be looking to provide insight into transfers and other matters at the club.
Senior has previously worked with the likes of Tottenham Hotspur and Crystal Palace and will be expected to work closely with Adam Pearson and Glenn Roeder to devise a successful strategy for the Owls.
“I would like to officially welcome Paul to Hillsborough and I am delighted to bring on board such an outstanding football individual," said Chansiri.
“It is imperative for the short, medium and long term success of Sheffield Wednesday that I surround myself with football industry professionals with defined expertise and Paul fits that remit to the letter.”
With Senior added to the board room, Wednesday now have a lot of footballing experience in their ranks and will be hoping that the trio of advisers can bring in the right players this summer.
The Owls are among the early favourites for promotion next season and they will be busy recruiting new signings over the coming months.
At the moment Wednesday appear to have a solid squad, but manager Stuart Gray will be needing an injection of quality if he is to achieve his ambitious aim of guiding the club back to the Premier League.
Wednesday supporters feel that Senior's appointment should help in this respect and his arrival has only increased excitement levels at Hillsborough.
Here is the best reaction from Wednesday supporters on social media site Twitter.
Paul Senior comes highly rated I believe. We need to sort recruitment and youth development out. More people helping SG the better #swfc— Jordan Leigh (@Jordrl66) May 5, 2015
Get in !! We have signed Paul Senior as another advisor #swfc— Wincobank Owl (@stevenowls) May 5, 2015