Signing the Scotland international will strengthen the Owls' hopes of being promoted from the Championship this season.
With Sheffield Wednesday just inside the Championship's play-off zone, Carlos Carvalhal may be hoping to add a player with plenty of Premier League experience that will be able to strengthen their promotion push before the window shuts.
The Daily Express reported earlier in the month that Wednesday's Championship rivals Wolves and Brighton were plotting a loan move for Stoke City midfielder Charlie Adam. But perhaps, it is the Owls that should be looking to sign him up this month.
The 30-year-old has found himself more on the periphery of the first-team at the Britannia Stadium this season, making only 10 starts in the league for the Potters, and thus, Carvalhal may not find it too difficult to convince Stoke to let him leave temporarily, and to convince Adam that a switch to Hillsborough would be good for him.
The Portuguese has seemingly managed to find a nearly perfect balance between defensive steel and attacking flair in his squad this term, and Adam would arguably embody both elements should he join the club.
Defensively, he is certainly not afraid to get stuck in, much like Sam Hutchinson, who has brought an aggression to the Wednesday side that has helped make them very difficult to get the better of.
And he has frequently shown that he is capable of producing moments of incredible quality in front of goal. Perhaps his most memorable strike came just last season when he scored from well inside his own half against Chelsea at Stamford Bridge.
Like Fernando Forestieri and Gary Hooper - who were both promoted last season with Watford and Norwich respectively - the former Liverpool man knows what it takes to get promoted from the second tier, having spearheaded Blackpool's promotion push in 2010.
And that experience could become crucial later in the campaign when every single game becomes season-defining.