Wolves made the announcement on Thursday in a statement released on their official website.
Enobakhare, 22, has not played for Wolves in each of the past two seasons after falling down the pecking order under Nuno Espirito Santo.
“Wolves can confirm that Bright Enobkahare has left the club by mutual agreement,” the club said.
“Enobkahare came through the club’s academy and went on to become a member of the Championship title-winning squad which achieved promotion to the Premier League in 2017/18.
“In total, the wide man made 49 appearances for the club, scoring three goals, twice in the League Cup and once against Barnsley in the Championship in September 2017.
“Wolves would like to thank Bright for his contribution and dedication and wish him well for the future.”
Enobakhare was handed a new one-year contract by Wolves last summer and hoped he would be able to build on an impressive loan spell at Coventry City during the second half of the 2018/19 season.
However, Enobakhare’s loan move to Wigan Athletic did not turn out well and he returned to Wolves midway through the season.
Wolves tried to offload him in January but he rejected the chance to join Birmingham City on more than one occasion during a bizarre transfer deadline day saga.
He started playing for Northfield Town Juniors where he was part of the team who won the Birmingham Minor Cup in 2014, scoring two goals for Northfield Town as they beat Rugby Town 3–1 at Villa Park.
As a result of his success Enobakhare had trials at several clubs before joining the academy system at Wolves.
In the summer of 2015, he signed his first professional contract with Wolves, scoring in a 3–2 friendly win over Chambly on his debut.
By James Agberebi
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