The Irish international is on loan at Hillsborough until the end of the season.
The Irishman is desperate for first-team football before the end of the season as he looks to secure himself a place in the Republic of Ireland squad for the European Championships in the summer.
He told the official Wednesday website that he wanted to be challenging for promotion and that he likes the way The Owls play:
“It took a few days to get everything over the line but I’m delighted it worked out because I wanted to come here.
“The club has got aspirations to play in the Premier League, the team has had a good season so far and there’s a good chance of making the play-offs, if not having a good run and challenging for automatic promotion.
“That is the ideal scenario for me, to come here and hopefully help the team move towards that.
“The way that the team plays suits me well. I could see that just from the first game the other night."
McGeady has fallen foul of Roberto Martinez's team selection at Everton recently and has played just one game for the club this season - in a 5-3 win against Barnsley in the Capital One Cup back in August.
With that in mind he was heavily linked with the likes of Leeds and Blackburn but Wednesday won the race for his coveted signature.
They will now hope he can prove to be pivotal in their hunt for promotion to the Premier League.