The goalkeeper enjoyed a loan spell with the Robins at the end of the 2015/16 campaign as they won promotion back into the Football League following a one-year absence.
Flatt made ten appearances during his first spell at Whaddon Road, keeping four clean sheets and helping Cheltenham to 22 points to secure the National League title.
Last season, the 22-year-old product of Wolves’ Academy joined Barrow on loan from January through May, making 22 appearances and helping the Bluebirds to a seventh-place finish.
All at Wolves would like to wish Jon the very best of luck for the upcoming season with Cheltenham Town.