The midfielder was part of the Seasiders side that were promoted out of the Championship.
The 26-year-old was on loan at Bloomfield Road when Ian Holloway led the club to sixth place in the Championship, before they beat Nottingham Forest and Cardiff City to secure a spot in the Premier League.
And with the Owls finishing sixth this season, Bannan suggested that Carlos Carvalhal's men can take some inspiration from what his former club did in 2010 ahead of their semi-final clash with Brighton.
"We had a late run at Blackpool and ended up finishing sixth. We beat Nottingham Forest in the semi-finals and Cardiff in the final. Cardiff finished fourth and just missed out on the automatics.
"Anybody can win the play-offs and we were the underdogs but ended up winning it. We beat Forest 4-3 away from home after winning 2-1 at home."
Like Holloway's men previously, Wednesday ended the regular season with some daylight between themselves and the teams above. And having failed to beat any of the top five this term, Carvalhal's side are likely to be as big an underdog for play-off success as Blackpool were.
However, Blackpool were able to overcome the strongest two teams in the play-offs, and while the Portuguese will be refusing to look beyond the first leg against Brighton, he will be hoping that the Seagulls' disappointment of missing out on automatic promotion will allow the Owls to make the first step towards repeating what Bannan's old side accomplished.