The left wing-back has spent the first half of the campaign developing with the League One side, playing 25 times under manager Sam Ricketts.
Giles made his first-team debut for Wolves against the Shrews in last season’s Emirates FA Cup and will now target his Premier League bow back in old gold.
The 19-year-old returned to training with Wolves on Friday and becomes another option for Nuno Espirito Santo.