21-year-old Hoever joined Wolves from Liverpool in the summer of 2020, though he has not been able to cement his place in the playing eleven.
He has managed 20 Premier League appearances for the club so far and has gone out on two loan spells in the Netherlands.
23-year-old Chiquinho, on the other hand, moved to England in January last year and has managed eight top-flight appearances for Julen Lopetegui’s team.
Hoever, who agreed a contract extension with Wolves, had his medical with the Championship side on Thursday.
Both players will be announced as new Stoke City signings soon with their loan deals running until the summer of 2024.
However, Wolves have included an option in the deal that would allow them to recall both players in January.
Following a disappointing 2022/23 season Stoke City are looking to bounce back this time around and their activity in the transfer market is being aimed to assist in that purpose.