The 20-year-old has progressed through the Wolves Academy to make 49 appearances for the first-team.
The winger featured 26 times under Nuno Espirito Santo last season, helping the club win promotion to the Premier League.
Enobakhare’s first professional goals also arrived last term at Molineux, as he netted against Bristol Rovers and Barnsley.
He joins a Kilmarnock side who’ve taken four points from the opening nine available in the SPL.
Enobakhare is eligible to feature in his new side’s clash at Aberdeen on Saturday.