Evans was actually offered the Wednesday job in 2013, prior to Stuart Gray's appointment, but he turned down the chance to manage the club and feels that decision has worked out for the best.
Carvalhal was appointed as Wednesday boss over the summer, and he has made a brilliant impact at Hillsborough.
The Owls are currently sat in ninth place in the Championship table, lurking just outside the play-offs.
And Evans said: “Sheffield Wednesday is a fantastic football club, and what a job the new coach is doing.
"They’re getting some players who are costing a lot of money, and from a distance, they have real high hopes of promotion. Not getting Steve Evans has probably been right for them!”
Before the international break, Wednesday were one of the form sides in the Championship – losing just one of their last 12 matches.
The Yorkshire side’s performances impressed many observers, and the team appeared to be adapting well to Carvalhal’s methods.
Wednesday return to action at the weekend with a match against Yorkshire rivals Huddersfield Town, and if they can win that fixture they could move up as high as seventh in the Championship standings.