The Academy graduate was named Cheltenham’s Player of the Month back in September but has not featured for the League One outfit since suffering an injury in the first-half of the Robins’ 1-0 over Accrington Stanley the following month.
Since his injury, Perry returned to his parent club for treatment, but having not played in three months and Cheltenham only having limited number of slots available in their squad for loan players, the decision has been made between the clubs to cut his season-long loan short.
Matt Jackson, Wolves’ strategic player marketing manager, said: “Taylor was developing very well down at Cheltenham but picked up a really unfortunate injury off the back of being awarded their player of the month.
“It’s been quite a long-standing injury, so we wanted to bring him back this month, in agreement with Cheltenham, to assess his fitness ahead of possibly going out on loan again.
“Cheltenham have been delighted with Taylor and the way he was playing for them before his injury, but he’s missed a lot of games since October and they only have selected loan slots available.
“With this in mind, we feel it’s in the best interests of all involved for Taylor to return to us so we can get him back up to full fitness before reassessing his situation towards the end of the window.”