Recuperating Nigeria international, Carl Ikeme has been retained by the club along with Bright Enobakhare, former England U21 international, Dominic Iorfa and United States U18 star, Owen Otasowie.
Only Enobakhare figured for Wolves first team last term, making 21 appearances in the Championship, which would have been more if not for an injury he suffered in the tail-end of the season.
Iorfa was not guaranteed playing time at the Molineux Stadium outfit and spent the entirety of the season at fellow Championship side, Ipswich Town.
As for Otasowie, the highly-rated box-to-box midfielder began the season with the U18s before he was promoted to the reserve team in March, a month after he signed his first professional contract.
Meanwhile, versatile defender Hakeem Odoffin has not been offered a new contract and will leave Wolves upon the expiration of his deal on June 30, 2018.