Free agent Bendtner has been without a club for much of the summer after being released by Arsenal in June.
The likes of Aston Villa and Olympiacos are reported to have been interested in the Danish striker, but his representative, Tom Brookes, says that a switch to Germany is on the cards.
"It's correct, we are negotiating with Wolfsburg," Brookes is quoted as saying by Sky Sports News.
The 26-year-old endured indifferent loan spells with Juventus and Sunderland, before being used sparingly for the Gunners toward the end of his 10-year stint in North London.
Bendtner scored 47 times in 171 Arsenal appearances.