^On 23 January, Hoever was recalled from his season-long loan at PSV Eindhoven and was subsequently loaned to Stoke.[51]
^On 3 January, Richards was recalled from his season-long loan at Harrogate after sustaining a season-ending injury.[57]
^On 23 January, Silva was recalled from his season-long loan at Anderlecht and was subsequently loaned to PSV Eindhoven.[51]
^On 3 January, Corbanu was recalled from his season-long loan at Blackpool after sustaining an injury. He was subsequently loaned to Arminia Bielefeld.[57]
^On 23 January, O'Shaughnessy was recalled from his season-long loan at Bradford and his contract with Wolves was terminated.[43]
^On 12 December, Marques was recalled from his season-long loan at Forest Green after sustaining a long-term injury.[69][57]
Due to the 2022 FIFA World Cup taking place during the winter, the Premier League and any cup competition fixtures were put on hold. During this period of time, Wolves would play a selection of friendly matches, the first being against Birmingham City on 3 December 2022,[104] which would then be followed by a ten-day trip to Marbella, where they faced Empoli on 9 December and Cádiz on 14 December.
Source: Premier League Rules for classification: 1) Points; 2) Goal difference; 3) Goals scored; 4) If the champions, relegated teams or qualified teams for UEFA competitions cannot be determined by rules 1 to 3, rules 4.1 to 4.3 are applied – 4.1) Points gained in head-to-head record between such teams; 4.2) Away goals scored in head-to-head record between such teams; 4.3) Play-offs[105] Notes:
Note: The match, originally to be played on 10 September 2022, was included in the league-wide postponement due to the death of Queen Elizabeth II.[107] The rescheduled date was announced on 7 February 2023.[108]
Wolves were one of the sixteen teams from outside the bottom two divisions of the English Football League to be invited to field their academy team in the competition due to it holding Category 1 academy status. They were drawn into Group C in the Northern section.[114] Note: In group stage matches which are level at the end of 90 minutes, a penalty shoot-out will be held, with the winner earning a bonus point.
Wolves were placed in Draw B of the Northern section of the round of 32 draw. They were drawn away to Manchester United U21.[115] Due to the rescheduled 2021 Men's and Women's Rugby League World Cup finals taking place at Old Trafford 3 days prior, it was agreed between the EFL and both clubs that the tie will be played at Molineux.[116]