The 28-year-old spent last season on loan at Brighton but is back at his parent club, where he has a year left on his contract.
The left-back is expected to be sold for a nominal fee as boss Kenny Jackett seeks to rebuild, with Championship outfits Brighton and Middlesbrough thought to be frontrunners for his signature, while Premier League sides Burnley and Sunderland are also reportedly monitoring the situation.
In comments reported by the Evening Gazette, Ward, who is currently on international duty with the Republic of Ireland, is quoted as saying: "I'm in a bit of limbo at the minute.
"I'm back at Wolves but I've not spoken to anybody at the club.
"I think they're looking to go ahead with the squad that got them promoted so we'll see what happens in the summer.
"I'll look at that when I get my legs up after this (international duty)."