The popular Portuguese coach has signed an extension to his deal at Hillsborough.
The Portuguese coach has proven a hugely popular figure with the Hillsborough faithful since returning from a three-year break from football to take charge at the start of pre-season.
The former Besiktas and Sporting Lisbon coach is on course to lead the Owls to their highest league finish since they were relegated from the Premier League in 2000, and the club are currently in contention for a play-off spot, sitting in sixth place in the Championship table with just four matches to go.
Ahead of their home match with MK Dons on Tuesday night, the club announced that they have moved to secure the services of the 50-year-old, although they did not confirm they length of the new deal the manager has signed.
Wednesday (@swfc) April 18, 2016
Carvalhal's Wednesday have been typified by a brand of free-flowing, attacking football this season, and there were rumours that he had caught the eye of a handful of top-flight English and European clubs.
However, he has now decided to commit his future to the Yorkshire club, and it was no surprise to see Owls fans express their delight on Twitter at the news.
@swfc outstanding, that rounds off a brilliant season anything else is a bonus.— Karim Maoui (@KMaoui) April 18, 2016
@swfc Brilliant news,I was convinced he would leave in the summer.— james (@james777g) April 18, 2016