Midfield playmaker Jacob Butterfield said he “jumped at the chance” to join Championship promotion hopefuls Sheffield Wednesday.
The 27-year-old has moved to Hillsborough on a season long-loan deal, with striker Sam Winnall moving in the opposite direction.
The swap deal was finalised just before last night’s 11pm transfer deadline.
Butterfield said: “It (the move) came about a bit last minute but when I heard of the opportunity that could possibly be there I jumped at the chance.
“I’m delighted we have got it all through. It is a huge club and I have always been impressed with the way that they have played their football. It is a good club.”
Since joining the Rams two years ago, Butterfield has made 89 appearances. The former Barnsley, Middlesbrough and Huddersfield Town player started Derby’s first two league matches but failed to start any of the last three.
Butterfield, who scored his first career goal for Barnsley against Wednesday at Hillsborough, said: “I have played most of my career in the Championship. I know the league well. I’m looking forward to trying to get out of it.”
He becomes the Owls’ fifth summer signing, following in the footsteps of Jordan Rhodes, George Boyd, Frederico Venancio and Joost van Aken.
Winnall, meanwhile, will spend the rest of the season at Derby. Queens Park Rangers reportedly wanted to sign the forward on a permanent basis but saw the deal collapse as they were unable to agree a fee.
Winnall has featured 18 times for Wednesday, scoring four goals.