Wolves have told those looking for new deals, such as Sam Ricketts, that talks must wait until the season has started.
Ipswich have signed striker Balint Bajner on a one-year deal after impressing on a trial period at the club.
Hyam is currently in the final year of his contract, but Ipswich have moved to tie him down to a new long-term deal.
The 21-year-old, who has come through the ranks at Ipswich is believed to have agreed a new three-year deal to extend his stay at Portman Road.
Hyam has established himself as a key member of Mick McCarthy's first-team plans and he has been an ever-present in the side so far this season.
Hyam's form is thought to have attracted the interest of a number of clubs and Ipswich will be happy to secure his future on a new contract.