Wolves made sure of their return to the Championship last term by winning the League One title.
While admitting that it will be a "big ask", Ricketts is eager for the Midlands club to make it back-to-back promotions and regain their place in the top flight.
"Getting back into the Premier League is one of the biggest prizes in football," he told Wolves' official website. "Obviously it is a big ask but that is where our thoughts are and this is a big opportunity for a young side."
Wolves start their Championship campaign at home to Norwich City on August 10.