Ashworth has been at Wolves since the age of 8 and has climbed the academy ranks ever since.
The midfielder made his way through the under-18s squad as well as the under-21's side before taking a two-year scholarship in 2022.
Academy manager for football Jon Hunter-Barrett said: “First of all, we’re delighted that Finn is going to be with us for another two years so he can continue his development and trajectory as a player.”
“He’s been here a very long time and we’ve seen Finn come through the pre-academy, youth development phase, and professional development phase, and now into the under-21s. The good thing about Finn is that he doesn’t become complacent on the back of that.”
“He has the technicalities to manage the ball really well in tight spaces and likes to play forwards quite a lot," Hunter-Barrett continued. "For us, those are the things that he can do and he’s got natural football intelligence.
“You always see a big difference in players when they’re in full-time football. The first year typically is settling down and letting your body adjust to the change and in the second year you really see them kick on, grow in confidence and grow as a person.”