The 24-year-old has not played for Mick McCarthy's side since November 2009 because of ongoing injury problems, the latest of which has been patella tendon troubles.
Kightly had an operation on his right knee in October and Wolves announced that he underwent the same procedure on his left knee in Sweden last week.
McCarthy told www.wolves.co.uk: "Kights has had his other operation and he is buzzing. It will be the same timescale as the last - six weeks to get him out running and then we will see from there.
"The first knee he had done is brilliant, he is really buzzing about it, and the left knee that he has just had done wasn't half as bad as the other one."
Source: PA
Source: PA