The Owls currently sit just outside the Championship play-off places.
Carlos Carvalhal's men currently sit just outside the Championship's play-off positions, two points behind both Brighton and Ipswich. But the former Aston Villa man is tipping the Owls to overhaul the gap between themselves and the top six, and perhaps book a place in the top flight for next season.
"If the team keep playing the way we are doing at the minute, I'm pretty confident we can be in the play-offs at the end of the season," Bannan told the Star.
"It would be brilliant if we went up. Everybody in the changing room wants to be playing Premier League football next season but it's not easy.
"We have done a great job so far but there is still a long way to go."
Wednesday have been on an excellent run lately, winning four of their last five league games - their only defeat came in a narrow away loss to the division's leaders Middlesbrough.
And with a Yorkshire derby against Leeds at Hillsborough ahead this weekend, Carvalhal will know that the giant morale boost that the team will get should they beat Steve Evans' men could benefit their hopes of keeping their momentum immensely, as they head into the business end of the season.
As well as their recent run, the Owls have received a major lift in the last few days with the news that Bannan himself has signed a new three-and-a-half-year contract with the club (via Star). The Scotland international has been excellent since his move from Crystal Palace last summer, and his form could be crucial to deciding whether the Owls can pull themselves into the top six.