Bjorn Sigurdarson has joined Norwegian side Molde on loan for a year.
The Icelandic striker agreed a deal with the Norwegian First Division side to return to the stage he represented Lillestrom prior to moving to Wolves just over 18 months ago.
The loan deal runs through to the end of 2014 in line with the Norwegian League season.
“Bjorn has expressed a desire to go and play abroad again,” said Head Coach Kenny Jackett.
“He feels that the football will suit him better than in England and in particular League One.
“He is going to a very good club in Molde for a year as he tries to re-establish and build his career again.”
To date with Wolves, Sigurdarson has made 33 starts and a further 27 appearances as a substitute, and scored seven goals.
He hasn’t featured for Wolves since the 3-3 draw with Rotherham on December 20.