The Belgium international only arrived at Molineux in a £2.5million deal from Anderlecht in the summer but has struggled to adapt to life in England.
The 26-year-old admitted last week that he was finding it hard to settle with his heavily pregnant wife still in their native country.
Van Damme, who has been hampered by injuries during his short spell in the Premier League, hinted that he could be prepared to move back to Anderlecht.
McCarthy has since held discussions with the left-back and the player claims that he could be allowed to leave when the transfer window reopens.
He told Belgian paper Het Belang van Limburg: "The coach asked me - if you had the chance to return to Anderlecht, would you do it?
"I have answered, yes.
"If we conclude in January it won't work between Wolverhampton both sides could leave as good friends."
Anderlecht supporters were singing van Damme's name in the wake of their Jupiler League defeat by Standard Liege last weekend.
But the defender insists that will not encourage him to return and despite his troubles he does not regret the move to the Premier League.
He added: "I have heard something about that, but this won't change my situation at all.
"Am I sorry I left? Sorry is a big word. At a certain moment Anderlecht and I made a decision."
Source: Team Talk
Source: Team Talk