Kenny Jackett is searching for a player who can give Wolves 'another 10 to 15 per cent in terms of quality'.
Neil Adams says Norwich remain in the market for further additions after signing Cameron Jerome and Carlos Cuellar.
The highly-rated defender was the subject of a failed bid from Millwall last season and is reported to be attracting further interest during the summer transfer window.
The 22-year-old is, however, in no rush to leave Fir Park.
Hutchinson has been part of the set-up at Motherwell since 2007 and admits he would be willing to sit down and discuss a contract extension at some stage in the near future.
He told the Daily Record: "There was a bid from Millwall last season but I didn't take any notice of it.
"If something happens in the future, then it happens, but for the moment I'm happy here.
"Motherwell haven't said anything about a new contract but we may start to talk about it towards Christmas.
"This is the start of my seventh year here. I came up as a 16-year-old ad have a complete life up here now."