The 18-year-old has impressed with the Yeovil under-18s, becoming their captain after a move from the Charlton Athletic academy.
However, his stay at the club will be a short one, as he has agreed to join Wolves and take part in their under-23 setup.
Academy chief Scott Sellars said of the move: "With every player we look at bringing in to the academy, first and foremost they must have the ability.
"Hong's been training with us recently and definitely has the ability, but he also has a great personality and clearly loves playing football.
"We're hoping he's going to bring these qualities to Wolves and expect him to fit in well with the programme we have in place in the academy.
"Throughout the academy, we have an objective to develop players not just for the first-team at Wolves, but also for a future career in professional football, and due to our ownership under Fosun, there is a large emphasis on developing young and talented Chinese players.
"In all aspects, this deal works for everybody as we are bringing in a player who we believe has a lot of potential and we can also give him the time at Wolves which he needs to develop into a promising player."