Manager Nuno Espirito Santo is looking at bringing in Inter Milan's Joao Mario for the coming season, but would have to pay a hefty £24million fee to do so.
The star could be the latest in a number of transfers, after Rui Patricio, Diogo Jota and Rueben Neves joined the club under his management.
However, Wolves would have to break their transfer record after they payed Porto £15.8m for Neves in last years summer transfer window.
Mario spent half of the season on loan to the Hammers, but didn't sign permanently.
According to the 'Daily Mail', Mario's agent, Jorge Mendes, is keen for him to move back to England, after rumours of a Moussa Dembele move to Inter.
Mario originally joined Inter for a fee of £35m plus £4.5m in bonuses, but have now said that they would be willing to accept £24m.