The Scotland international midfielder played on loan for Leeds from Aston Villa in 2011.
Jake Livermore, now at Hull City, was also on loan at Elland Road from Tottenham Hotspur at the same time.
Neither Bannan nor Livermore got much playing time during their respective loan spells at Leeds.
The two players will face each other in the Championship playoff final at the Wembley Stadium in London on Saturday evening.
“Jake is one of those I am looking forward to kicking at Wembley,” Bannan jokingly told The Yorkshire Post. “We both stayed in the same place after joining Leeds on loan. We were only there for a bit and neither of us played much. It was a bit strange.
"But Jake was a good lad and has gone on to have an unbelievable career from there. He has been capped for England. He has had a very good season.”
Bannan has been one of the best players for Wednesday this season and will be a key player against Hull on Saturday evening.
The former Crystal Palace midfielder has scored two goals and created 58 chances in 36 Championship matches for the Owls.
The Scotland international has a pass accuracy of 82% and a shot accuracy of 31%, and has won three headers, 26 dribbles and 42 tackles.
Meanwhile, Hull midfielder Livermore has scored four goals and created 40 chances in 34 Championship matches this campaign.