The Wales international goalkeeper, 26, is now fully fit having spent the first three months of this season on loan at Championship club Yeovil having missed all of last term recovering from two cruciate ligament injuries.
Hennessey has been back on the bench for Wanderers' last two games as understudy to first-choice goalkeeper Carl Ikeme, with Aaron McCarey having linked up with York on loan until the new year.
And head coach Kenny Jackett insists he will consider what is best for Hennessey's future in January - only after Wolves have completed a hectic festive period with all eyes focused on getting the club's promotion charge back on track following successive defeats.
"Wayne is in the squad at present," Jackett told the club's official website.
"We don't know whether things will open up in January for him in terms of whether we'll get bids - we'll see.
"At present it's not something I'm particularly looking at or concerned with because Wayne is part of a working group that needs to go up to Rotherham on Saturday and win and play on Boxing Day and win etc etc. That's the main thing.
"The slightly longer-term projection of going through into the January window is something we'll see as to whether there are options or bids.
"We'll have to review the situation and see what the options are when the window opens.
"At present he's part of a working group that need to get some results."