Wolves are looking for a new manager following the dismissal of Vitor Pereira on November 2nd, having already been rejected by former boss Gary O’Neil.
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The West Midlands side are rock bottom of the Premier League with just two points from their opening ten league games.
Now, according to Sky Sports, Middlesbrough have turned down their approach for Edwards, 42, as they seek promotion to the Premier League.
Middlesbrough have enjoyed an impressive start to the Championship season, currently sitting in third with 26 points from their 14 games.
Edwards has a history with the club having made 100 appearances for Wolves as a player between 2004 and 2008, but it remains to be seen whether he is pushing to take over as manager.