Wentz completed 6 of 15 passes for 79 yards before he was replaced by Hurts in the third quarter of the Eagles' 30-16 loss to the Green Bay Packers on Sunday in Green Bay, Wis.
Hurts -- a second-round pick in the 2020 NFL Draft -- completed 5 of 12 passes for 109 yards, one touchdown and an interception in relief of Wentz.
"I just felt like we needed a spark [based on] where we were as an offense," Pederson told reporters. "We needed something to go our way, so I decided to put Jalen in the game."
Wentz has completed 57.4% of his throws for 2,620 yards, 16 touchdowns and a league-leading 15 interceptions in 12 starts this season. The No. 2 overall pick in the 2016 NFL Draft has also been sacked a league-high 50 times.
"There are a lot of things I'm going to consider and evaluate before anything is decided," Peterson said when asked if Wentz or Hurts will start moving forward. "An opportunity arose and we needed the opportunity to get us back in the football game and we came up short."
The Eagles were outgained 437 to 278 in total yards in Sunday's loss. They also allowed seven sacks.
"I know what I'm capable of," Wentz said. "I know I can play better. I never have doubted myself or lost confidence in my abilities. Like I said, a lot of these things are outside of my control."
The Eagles (3-8-1) host the New Orleans Saints at 4:25 p.m. EST on Sunday in Philadelphia.
"I'm trying to do what I can do for this team," Hurts said. "It's as simple as that. Working hard every day, putting my best foot forward, and taking somebody with me. I'm trying to lead and just get this thing in the right direction."