The 17-year-old completed his medical and agreed terms in Wolverhampton on Friday, and will now spend the remainder of the 2019/20 season back on loan at Rochdale.
Matheson is a product of the League One club’s academy system and has enjoyed a rapid rise to the first-team over the past 12 months.
As a 15-year-old, Matheson became Rochdale’s youngest ever player when making his debut against Bury and this season has established himself as a regular at Spotland.
The England under-18 international has played 24 times for Dale in all competitions and stole the headlines when scoring against Manchester United in the Carabao Cup in September.
Wolves sporting director Kevin Thelwell said: “Our recruitment team have watched Luke since he made his debut at 15. He’s still only 17 and has made a lot of appearances for Rochdale in League One, which is a very good standard, and had strong games in the cups, particularly this season against Manchester United and Newcastle United.
“The system we play, it’s set up for him. He plays at right-back for Rochdale at the moment, but he’s a right-wing back in our eyes because of his energy and ability to continually sprint and recover.
“At 17, for a boy to have so much experience, be English and have such a strong mentality is fantastic and we think he’s everything we’re about.
“He’s playing so often at Rochdale, so we’re sending him back there on loan, to continue to get experience and that should hopefully give him more game time. Then he’ll come back to us for the start of pre-season in the summer.
“It’s great for all of us to get him in the building, we’re really excited and we think he’s going to be a top talent.”
Everyone at Wolves would like to welcome Luke to the club and wish him the best of luck for the remainder of the season at Rochdale.
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