The Championship side were thrashed 7-0 in their Capital One Cup meeting with the Premier League champions back in September.
Manager Stuart Gray has said that he believes his side are capable of causing an upset, but they will have to do it without Lewis McGugan and Royston Drenthe after their loan spells at Hillsborough came to an end.
Beating Manuel Pellegrini's side will not be easy though, as the team are currently on an 11-match unbeaten run which has seen them catch league leaders Chelsea on points and goal difference.
Fernando will be available after serving a suspension again on New Year's Day, while Frank Lampard could be pushing for a start after extending his loan spell at the Etihad and scoring the winner against Sunderland earlier this week.
Pellegrini will be hoping for a cup run from his side, as they have only been beyond the fifth round once since lifting the trophy in 2011.
City have not lost in their last five appearances against the Owls, which stretches back to 1994.
Form in FA Cup: LDWWWL
Form in all competitions: WWWWDW
Possible starting lineup: Caballero, Zabaleta, Kolarov, Mangala, Clichy, Toure, Fernando, Fernandinho, Lampard, Milner, Silver
Form in FA Cup: DLDWWL
Form in all competitions: WWLLWW
Possible starting lineup: Westwood, Palmer, Lees, Loovens, Mattock, Maghoma, Semedo, Lee, Helan, Nuhiu, Maguire
Sports Mole says: 3-0