The 19-year-old has gained valuable experience at the struggling League One side this season, and reports state that the club are eager to send him back out on loan at a higher level.
Wheatley scored three goals in 25 appearances for the Cobblers and will be a huge loss for Northampton for the remainder of the season.
Nolan waves goodbye
Manager Kevin Nolan spoke on the teenager, who he said will be greatly missed after making great progress.
"We are disappointed Ethan has been recalled but we are proud of the work we have done with him and believe he leaves us a far better player than he arrived.
“Because of his injury picked up at Huddersfield in December, we were planning to be without him for a period anyway, but we thank Manchester United for loaning Ethan to us and wish him well for his future career.
"I know he enjoyed himself here, I know his family were appreciative of how we looked after him, and I know Manchester United were pleased with how the loan went.”
Wheatley joins Toby Collyer (West Brom), Sonny Aljofree (Notts County) and Louis Jackson (Solihull Moors) who have also returned from their loans this month.
Wheatley thanks Northampton after successful spell
Following confirmation of his recall, Wheatley said: "I have loved my time at Northampton Town. I'm very grateful to the manager and the staff who put their trust in me and helped me every single day, both on and off the pitch.
"I'd also like to thank the supporters for their backing home and away, who have been superb this season. It has also been a pleasure sharing the dressing room with a great group of lads and I wish the club and everyone connected with it all the very best for the future."