The centre-half was a stand-out performer for Nuno Espirito Santo’s team during a season-long loan from Porto.
And a deal has been wrapped up to sign him permanently ahead of their return to the Premier League next season.
The move will come as a relief to Wolves supporters who had feared cult hero Boly may not sign for Nuno's men.
The destiny of Wolves' other loanees remains a mixed picture.
Wolves had six players on loan in 2017/18 and a £13m deal to buy top scorer Diogo Jota from Atletico Madrid is in hand.
However It’s believed that Leo Bonatini, who scored 12 goals in his first 20 appearances but failed to find the net from December 4 onwards, won’t be joining on a permanent deal.
And the futures of the other three – Benik Afobe, Alfred N’Diaye and Ruben Vinagre – are still up in the air.
They have until the end of May to enact the deals they agreed when signing the players on loan last summer, or January in Afobe’s case.
N’Diaye spent the season on loan from Villarreal and played 37 times, although 20 of those appearances were from the bench.
Monaco loanee Vinagre featured nine times in the league before Christmas but only appeared in the cup in 2018. However, Wolves believe the 19-year-old has huge potential.
Striker Afobe only started seven games, plus a further nine substitute appearances, but still netted six times and had the best goals-per-minutes ratio of the squad.
Wolves don’t have a recognised senior striker on their books and will make a decision on him, N’Diaye and Vinagre in the coming days.
The club have again been linked with Besiktas’s Brazilian forward Talisca, who is set to leave the Turkish club this summer, as well as AC Milan striker Andre Silva whom it was reported they approached last January.
However, the Express & Star understands that not a single inquiry has been made for either player by Wolves.