Denayer left Lyon earlier this summer upon the expiry of his contract after joining them from Manchester City in the summer of 2018.
Wolves defender Willy Boly is angling for a move to newly promoted Nottingham Forest and failed to turn up after being named in the matchday squad to face Newcastle United.
Also, Wolves loaned out Conor Coady to Everton and have been linked with West Ham United’s Craig Dawson to bolster their defence.
Denayer was offered to multiple clubs earlier this summer, including Fulham and Valencia, but now Wolves have joined the queue for the Belgium international.
The centre-back made 20 appearances for Les Gones during the 2021/22 season, scoring three goals, laying on a single assist and earning two cautions.
With the World Cup coming up in November, Denayer will be hoping to find a new club soon and book a seat on the plane to Qatar.
Wolves currently sit in 19th place in the Premier League and are one of three sides, Everton and Leicester being the others, who are yet to notch a victory this campaign.
