Having failed to secure an immediate return to the Championship earlier this year, the Owls are expected to challenge for promotion during the 2022/23 campaign.
Both sides have engaged in a great deal of transfer activity ahead of this particular clash.
Wednesday have secured the services of eight players in the current window.
Portsmouth meanwhile have bolstered their squad by signing Colby Bishop, Joe Pigott, Josh Griffiths, Zak Swanson, Joe Rafferty, Joshua Oluwayemi and Marlon Pack.
It will be interesting to see who Owls manager Darren Moore decides to start on Saturday as he has a plethora of options to choose from.
When these two teams met on the final day of the regular season earlier this year, Wednesday sealed an impressive 4-1 victory in front of their supporters.
Looking ahead to this weekend’s game, Carlton Palmer has predicted that the Owls will beat Portsmouth again in a similar fashion.
Speaking to Football League World, Palmer said: “I don’t see Portsmouth as being in the top-two in League One, nowhere near that.
“I think Portsmouth will be a mid-table team so I think it’s a great opportunity for Sheffield Wednesday to come out and make a statement at the start of the season.
“We did that the year we got promoted, we went away to Ipswich and beat them 4-1 and I think Sheffield Wednesday will do the same.
“I think they’ll turn them over maybe 3/4-1 and a good start to the season.”
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Whereas Wednesday will be confident in their ability to compete with all of the teams that currently reside in League One, they will still need to be wary of the threat that Portsmouth will pose on Saturday.
By maintaining their discipline in this fixture, it wouldn’t be at all surprising if the Owls seal an eye-catching victory in front of their fans.
Given that there is fierce competition for places at the club, the players that are selected to start against Pompey will know that they will have to deliver the goods in order to retain their places in the side.
Providing that they do go on to defeat Portsmouth, Wednesday will be keen to use the momentum gained from this clash to push on in the third-tier in August.
The Owls are set to play five league games next month whilst they will also participate in cup clashes with Sunderland and Bradford City.