Dominic Iorfa has joined Championship side Sheffield Wednesday on a permanent transfer for an undisclosed fee.
The Academy product went on to make 93 appearances for the Wolves first-team, after making his debut in December 2014.
The defender, who has represented England at under-21 level, was named the club’s Young Player of the Year in 2015/16 after impressive Championship performances.
He spent time at Ipswich Town on loan last season and has continued to gain minutes for Rob Edwards’ under-23 team this term.
Elsewhere, Connor Ronan has joined FC DAC 1904 Dunajská Streda on loan for the remainder of the season.
FC Dac compete in the Slovakian top division and Ronan will want to impress, having spent the first half of the campaign at Walsall.
Also departing on loan is Jack Ruddy, who links up with Spanish side UD San Sebastian until the end of the season.
The goalkeeper spent four months with Jumilla earlier in the campaign and now returns to Spain until the end of the campaign.
Also, Phil Ofosu-Ayeh has returned from his loan at FC Hansa Rostock and immediately heads to Wurzburger Kickers FC in the third tier of German football.
Finally, Joe Mason has had his Wolves contract ended by mutual consent. The striker joined the club in 2016, but hasn't featured under Nuno Espirito Santo and is now free to find a new club.