The Canadian international enjoyed a taste of the first-team last season, featuring in 11 matchday squads and making his Premier League debut against Tottenham Hotspur in May.
That substitute appearance was reward for an impressive season for the under-23s, for whom he scored seven times, including two in the play-off defeat to Crystal Palace.
The 19-year-old joined the Wolves Academy in 2018 from Toronto FC and developed impressively in the under-18s and under-23 groups.
Now he joins the Owls, who begin their new League One campaign against Charlton Athletic this weekend, and Scott Sellars believes the loan could really benefit Corbeanu.
He said: “It’s fantastic for Theo because he had a really good season last year in the under-23s, being successful in terms of assists and goals, which culminated in his debut for the first-team which was great.
“He played international football with Canada in the summer, coming back from the Gold Cup, which was a great experience to play at that level, and we feel now what he needs is minutes at first-team level, so this is the best next step for his development.
“We had a lot of interest in Theo over the last 12 months and we’ve picked a club for football reasons, but also obviously it’s a big club, and the pressure of playing for a big club is an add on for player development, and we think it’ll be good for Theo to hopefully manage and thrive.
“Ultimately, you’re always looking to step up and challenge yourself, and we say to a lot on young players about not finding your level, always be ready for the next level. We’re pleased he’s got this opportunity and hopefully it’ll be a really positive loan for him.”
