The Portuguese suggested that letting one player leave would result in the Owls attempting to bring another to the club.
The Star names the likes of Lewis McGugan, Caolan Lavery, Claude Dielna and Rhoys Wiggins as players that may be seeking a potential departure this month, with the latter already being linked with a switch to Championship rivals Bristol City and Brighton.
And Carvalhal admitted that some of the players that are on the periphery will able to seek first-team football elsewhere, before stating that their departures would be met with attempts to bring in a replacement.
"Some players know from myself that it is better for them to go on loan and play," Carvalhal told the Star.
"It wasn't possible over Christmas and they didn't have a chance to go to another club but they still know my position.
"If someone requested to leave to play, we will consider it. If we said 'yes', we must bring in another player."
The Portuguese has previously stated that striker Sergiu Bus can leave the club temporarily (via Star), while defender Darryl Lachman is already out on loan with Eredivisie side Cambuur.
Given that Carvalhal is in his first season with the Owls, it is hardly a surprise that several players have found their opportunities severely limited in recent months. The manager has arguably not had enough time to completely reshape the side to suit him, and may need another summer window to fully execute the changes he wants.
And while the names on the fringes may be concerned that staying with the club will see their career stagnate, Carvalhal may be hoping that first-team football elsewhere will give them the motivation to prove themselves in an attempt to stake a claim for a place in the Wednesday team upon their return.