The tragedy, which occurred at the Owls' home ground during an FA Cup semi-final between Liverpool and Nottingham Forest, left bereaved families searching for answers as to how and why their loved ones were crushed to death over 23 years ago.
A statement on the club's official website said: "Sheffield Wednesday FC welcomes the release of the Hillsborough Independent Panel report and would like to acknowledge the enormous amount of hard work by all involved during what was, and continues to be, an extremely emotive process.
"Throughout the compilation stage, the club has worked closely with the panel and the other donating organisations to ensure that, in line with the ethos of maximum disclosure, we have been totally transparent.
"Sheffield Wednesday would also like to record its gratitude for the thoroughly dignified manner with which the Hillsborough Family Support Group and its representatives conducted themselves throughout all levels of consultation with the club.
"On behalf of the club would like to offer our sincere condolences and an apology to all the families who have suffered as a consequence of the tragic events of 15 April, 1989."
The documents are expected to be made public around 1pm, while Prime Minister David Cameron is reportedly due to issue an apology from the House of Commons.