Bennett and Bannan are good friends, having played together at Aston Villa earlier in their respective careers.
And Bennett says that he was pleased to see Bannan playing so well for the Owls, when he was researching the Yorkshire club prior to his move.
“I have watched a couple of Wednesday’s games this season and Barry has been one of the best players on the pitch," he said. "He’s a good technical player who’s good on the ball.
“He has got a lot of energy and puts himself about.
“Barry has been playing well which is why Wednesday have rewarded him with a good contract.
“I can’t wait to start working with Barry again.”
Bennett has joined Wednesday on loan from Villa until the end of the season, and he is expected to come straight into their first team.
The 25-year-old has a vast amount of experience at Championship level, but he has not played much this season.
Bennett has struggled to make the grade at Villa, and a loan move to Bournemouth earlier on in the campaign did not work out as he had hoped.
Wednesday’s next match comes against Reading on Saturday, and Bennett could make his debut in the fixture.