Goncalo Guedes will spend the remainder of the 2023/24 season on loan at Villarreal, having returned from his spell at Benfica.
The 27-year-old has spent the past 12 months on loan back in Portugal, across last season and this, but has started just two of his 14 appearances in all competitions.
A Wolves singing from Valencia in the summer of 2022, but Guedes made just 18 appearances and, having fallen out of favour, returned to Portugal with Benfica, where he started his career.
The latest six-month loan represents a second spell in La Liga with Villarreal, who are sat in 15th in the Spanish top flight and face Mallorca this weekend, when Guedes will hope to make his debut.