Wood believes that under Coleman, who made over 600 appearances for club and country during his playing days, he will be able to flourish.
"I am delighted to have signed and I am really looking forward to working with the manager," he said. "I have a lot of respect for Chris Coleman, who just like me was a centre-half, and I'm hoping to learn a lot from him.
"I have been at Sheffield Wednesday all of my career and I'm looking forward to the new challenges at Coventry. There is a good young squad here and a good management team."
Wood is in contention to make his debut in Saturday's clash against Crystal Palace.