The 49-year-old Portuguese was confirmed on Tuesday night as successor to Stuart Gray, who was sacked on June 11.
Carvalhal, who has had brief spells in charge of Sporting Lisbon and Turkish side Besiktas, told the club’s official website: “Sheffield Wednesday, it’s an historical club with amazing fans – they love their football and their club.
“I want be part of these feelings, to love the club with a big passion and try to give happiness to all.
“To achieve that we must play positive football, and if we do that, we can all go the same way.
“I have coached big teams in Europe like Sporting and Besiktas and played in the Europa League but my child’s dream has always been to coach in England.
“To come to England and to a club like Sheffield Wednesday is amazing. I’m excited and I want to win the trust of our massive fans.”
Carvalhal will be joined at Hillsborough by countrymen Joao Mario, Joao Cunha and Bruno Lage who will form his backroom team.
Wednesday have also been in talks with Swindon about compensation for their manager Mark Cooper.
Cooper, reluctant to leave Swindon to become assistant head coach, had been expected to team up with Carvalhal and it has been reported that Wednesday have retained their interest in the 46-year-old.
Carvalhal, to be officially unveiled by Wednesday on July 9, said he had been impressed by the club’s owner Dejphon Chansiri, who took control at Hillsborough in January and immediately announced his intention to take them back to the Premier League.
Carvalhal added: “The new owner has a big project for Sheffield Wednesday. He knows what he wants and the way to go there.
“After my first contact with Mr Chansiri, I felt full of energy and ambition for this club.
“The chairman of this project has this ambition and I have the same. I know our supporters do too.
“Let’s do a fantastic season with positive football and let’s enjoy our time together.”