The 21-year-old, who is currently starring in the top tier of Slovakian football during a very successful loan spell with Dunajská Streda, has put pen to paper on a deal which will tie him to Molineux until 2021.
Ronan made his first senior appearance for Wolves in December 2016 after impressing with the under-23s and has since played 13 times for the first-team, as well as making three appearances in the Checkatrade Trophy with the under-23s where he scored against Accrington Stanley.
Last season, Ronan continued to excite supporters while on loan at Portsmouth in League One before spending the first six months of the 2018/19 campaign at Wolves’ neighbours Walsall.
The Rochdale-born midfielder made another loan switch in January this year, opting to join Fortuna Liga outfit Dunajská Streda where he has become a key member of a side which secured Europa League qualification. He notched his first goal in top-flight football in a vital 1-0 win over MSK Zilina last month.