Ron Flowers was in inspirational form for the Wanderers during the 1965 – 1966 campaign as they enjoyed a decent campaign back in the second division, finishing it off in sixth position, narrowly missing out on promotion. Ronnie Allen took charge at Wolves during the 1966 – 1967 season and the club dominated the division as they finished it off in a very decent second position, in turn promoting them back in to the top flight.
The year 1967 proved to be significant as it marked the arrival of new signing, Derek Parkin, who would go on to be a super star at the club. The 1967 – 68 season saw the club struggle back in the top flight; however they were fortunate to avoid relegation as they finished the season off in 17th position. They crashed out of the FA Cup in the third round as they suffered defeat against Rotherham United in the third round of the cup competition.
Billy McGarry took charge at the club in 1968 and the following two season saw Wolves finish off in 16th and 13th positions respectively.