Pedersen added: "I'm really happy with the players we have got, and if we can keep this level, then it is looking very positive."
Burstow described his playing style upon initially joining Hull. "I play through the middle and always try to be a threat in the box," he said.
"I can link play, hold it up and run in behind. Hopefully, there are different avenues the manager can use me."
When Burstow joined Bolton on loan, then-head coach Steven Schumacher expressed confidence in the striker's development potential.
"He's still a young player but one with a good taste of first-team experience at a high level who wants to keep improving and developing with us," Schumacher said.
"Hopefully we will bring the best out of him in a role he's keen to play."
Meanwhile, Leicester City manager Martin confirmed that reinforcing the attack remains a central focus after missing out on Burstow.
"The topline, both wide positions and a number nine, I think it's really clear," Martin said.
"We have really good competition for places in the back four and midfield, we've got a lot of good football players.
So the top line right now, we need to strengthen that."
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Negotiations between Sheffield Wednesday and Hull City are expected to progress over the next 24 hours as formal paperwork is finalized.
