The Nigerian shot stopper was forced to hang up his gloves after he was diagnosed with acute leukaemia in July last year, aged 33.
The decision was revealed when Wolves announced their squad numbers for the 2018/19 Premier League season.
The goalkeeper started his career in the Wolverhampton Wanderers’ academy.
He made over 190 appearances for the club.
Ikeme is not expected to return to the pitch, but Nigeria have offered him a job in their technical crew.