The BBC asked all Premier League and Football League clubs for a 10 per cent reduction in fees for commentary rights for the 2018/19 season and Sheffield Wednesday was the only one to refuse.
Sheffield United, Rotherham, Barnsley and Doncaster matches will all continue to be covered live by BBC Radio Sheffield.
COURT: Jail for Doncaster drug dealer who hid heroin and crack cocaine in Kinder Egg containersA radio station spokesman said: "We are disappointed Sheffield Wednesday hasn’t accepted the new commentary deal.
"We have a long history with the club and have enjoyed bringing fans live commentary of The Owls’ home and away fixtures.
"We’re sad we will no longer be able to provide this service.
"We want to work with the club in the future and will continue to provide the latest news about Sheffield Wednesday to our listeners.
"We will also continue to have commentaries from Sheffield United, Rotherham United, Doncaster Rovers and Barnsley."
BBC Radio Sheffield has provided live commentary on Owls games every season since 2000.
It will continue to provide score flashes from games along with pre and post-match summaries.