The Portuguese was in charge when Wednesday won 1-0 on Tyneside in the Capital One Cup in September last year, with Lewis McGugan on target in the 76th minute.
Now the two sides are set to do battle in the league on Monday and Carvalhal has challenged his players to "fight for three points" against Rafa Benitez's table-toppers.
Wednesday - last season's losing play-off finalists - are currently sixth in the Sky Bet Championship table after winning four of their last five matches.
"Newcastle is a massive club with a fantastic stadium and fantastic support from the fans," said the Owls boss.
"We are talking about a team that has more strong points than weak points, of course; the teams at the bottom normally have more weak points than strong points, but all the time they're a threat.
"At the same time, they have weak points like all teams in the world and we'll try to exploit the weak points they have. It will be a game with two teams that go to the pitch to win the game.
"We will respect them because we respect all the opponents; we know they are very strong, they have very good players and a very good coach, but we are Sheffield Wednesday and we can go and fight for three points. Let's see."
The Owls will welcome key man Fernando Forestieri back from a three-match suspension, but Carvalhal has remained tight-lipped on whether Scotland international Barry Bannan will be fit and has a number of other injury doubts.
But he vowed: "Sheffield Wednesday will, on Monday, go with a good squad and be ready to fight in what is probably the toughest game of the season. We have a team to discuss the three points with all of the teams in the competition."