The young Reds had gone behind early on to Lee Gregory's strike but went into the break level with the Championship side after Zidane Iqbal found the net in the 42nd minute.
Gregory restored the Owls' lead after the interval, but half-time substitute D'Mani Mellor equalised in the minutes that followed before Shola Shoretire converted from the spot to swing the game in United's favour.
Hannibal completed the scoring late on to confirm a winning end to pre-season for Neil Wood's side.
Four days on from a 2-2 draw at Kidderminster Harriers on Friday evening, the young Reds lined up against the Owls for the last friendly of pre-season before the start of our Premier League 2 campaign on Monday.