The Nigerian striker joined Wolves from Belgian side KRC Genk last summer in a €24 million transfer but has struggled to make a major impact in his debut season at Molineux.
The 25-year-old has managed just three goals in 28 league appearances for the Old Gold during the 2025-26 campaign.
According to talkSPORT, Wolves are now willing to allow Arokodare leave on loan, with the club aware that finding a permanent buyer may prove difficult after his disappointing performances in the English top flight.
The Nigeria international is currently valued at around €18 million ahead of the summer transfer window.
