Pedersen hopes Sheff Wed can add to squad this week
The Owls lost their Championship opener against Leicester City on Sunday following a pre-season dominated by ongoing uncertainty over their ownership, finances and having to operate under a transfer embargo.
But with the club settling outstanding debts last Friday, Pedersen has been given the green light to make much needed additions to a squad down the bare bones just one week in.
"We have to hurry up but we also have to be a bit patient because we need the right players who can help us not only for three months or six months but can help us through the whole season," he told BBC Radio Sheffield.
"We are doing all that we can in the background to be prepared to do something quickly.
"I hope that we have maybe one or two players before the next league game because otherwise we will have only 12 senior players so I hope we can do something."
Pedersen admitted Wednesday, who used 50 per cent of their Solidarity Payment from the Premier League to settle outstanding debts last Friday, have as many as 60 players in their sights.
Experienced defensive duo Ben Mee and Liam Cooper and Manchester United academy products Harry Amass and Toby Collyer are thought to be of interest to the South Yorkshire club.
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But with the club still under restrictions meaning they can not pay a transfer fee (including for a loan) until the end of the winter transfer window in the 2026-27 season, options remain limited.
To compound the situation Pedersen will be without midfielder Nathaniel Chalobah against Stoke after he sustained a hamstring injury in the defeat at Leicester.
Barry Bannan, who received a one match ban for his red card against Leicester City, will miss Wednesday's Carabao Cup first round tie at Bolton but is available for the visit of the Potters this weekend.
Pedersen, who took over at the start of the month following Danny Rohl's departure by mutual consent, believes his over-stretched squad with six academy players on the bench, showed character at the King Power Stadium.
"I think there were many people that did not have many expectations because they know it is a difficult situation. But they saw how the boys work together today also in difficult [circumstances]," he added.
"This is the base for Sheffield Wednesday. We are a working team who stay together when it's difficult."
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