Dons drop back into the bottom four as Wednesday hit five
and live on Freeview channel 276
Leading through a stunning Jonathan Leko chance after two minutes, Dons were pegged back by Josh Windass' lob on 11 minutes, before Mo Eisa restored the visitors' unlikely lead on 24 minutes - a lead they held until the break.
But Wednesday would net four times in the second-half to secure the win. Michael Smith netted twice, either side of Lee Gregory's tap in, before George Byers added a fifth at the death.
The result sees Dons drop back into the bottom four, now sitting 21st ahead hosting third placed Ipswich next Saturday.
After the 5-0 humbling at the hands of Bolton Wanderers on Tuesday night, Mark Jackson made two changes to his side, welcoming back Tennai Watson and Bradley Johnson, with Henry Lawrence and Dawson Devoy dropping to the bench - the latter of which had been ill following the game on Valentine's Day.
With expectation fairly low from many of the Dons supporters walking into Hillsborough, what they saw in the opening half stunned everyone. Having squandered chances at the University of Bolton Stadium in the week, Jonathan Leko stunned everyone with a goal of the season contender after just two minutes, lashing the ball into the top corner to give Dons the lead with his first goal for the club.
It was the first league goal Wednesday had conceded at home since October 29 and stunned the home crowd with the level of unfamiliarity. But they were soon level, when Josh Windass got on the end of Reece James' ball over the top, before lifting it cleverly over Jamie Cumming's head to equalise.
The promotion chasers piled forwards and hemmed Dons into their own terratory for much of the first-half after that, but critically, where their lack of cutting edge let them down at Bolton, Dons would in fact be the ones going in at the break in front. Dominic Iorfa had Mo Eisa in his blindspot when he looked to head back to his keeper Cameron Dawson, but the striker latched onto it, shrugging off the attentions of the defender before picking out the bottom corner to restore Dons' lead on 24 minutes.
Wednesday continued to look the more dangerous side, but found a packed Dons penalty area difficult to navigate cleanly. Zak Jules and Jack Tucker looked to have put their dismal showing in the week behind them with a string of important headers and blocks, though the former had his heart in his mouth when Liam Palmer's effort deflected off him, looped up and onto the bar.
Deep into seven minutes added on at the end of the first-half though, Dons should have made it 3-1. Sullay Kaikai had Eisa screaming for it at the far post as he broke into the penalty area, but opted to shoot from a tight angle rather than pulling it back for the goal-scorer, shanking his effort wide.
That goal would have been worth it's weight in gold for Mark Jackson's side heading into the second-half, as Wednesday continued to force the issue and got their rewards.
Michael Smith had already missed a sitter not long after the restart, but made no mistake from the penalty on 54 minutes when the ball bounced up and hit Tennai Watson on the hand to equalise for the hosts, and it got better for Wednesday 10 minutes later when substitute Lee Gregory was able to tap them in front from inside the six-yard box.
The writing was on the wall for Dons though with 16 minutes to go when Smith's harmless-looking strike took a wicked deflection off Jules once more, looping over Cumming once more for Wednesday's fourth.
Though not as embarrassing as their drubbing on Tuesday, Wednesday ensured Dons would concede five back-to-back as the clock struck 90 minutes, with George Byers nodding home Marvin Johnson's cross to complete the rout.
Referee: Scott Oldham
Sheffield Wednesday: Dawson, Palmer, Vaulks (Gregory 61), Iorfa, Bannan (Dele-Bashiru 77), Windass, Byers, M Johnson, Smith (Bakinson 90), Hunt (Adeniran 61), James
Subs not used: Stockdale, Famewo, Flint
MK Dons: Cumming, Tucker, Jules, Harvie (Lawrence 87), Watson, Maghoma (Smith 87), McEachran (Devoy 61), B Johnson, Leko, Kaikai, Eisa
Subs not used: Ravizzoli, Grigg, Holland, Burns