The Midlands outfit, who were relegated from the top flight last season, boast one of the largest squads in the league and Solbakken is keen to cut the numbers from 30 to around 23 or 24.
"It's not healthy to work with 30 players because some are a long way from the team," he told reporters. "It's maybe better to have 23 or 24, who feel they are very much part of it."
Steven Fletcher and Matt Jarvis have been linked with moves to Premier League clubs and although Solbakken is looking to cut numbers, he revealed that he is still interested in bringing in more signings this transfer window.
"We have been careful not to take any risks in the market," he added. "Tongo Doumbia is a very good player, aged 22-23. Slawomir Peszko is on a one-year loan with a small transfer if we want it afterwards. And Bjorn Sigurdarson will be very good, I'm sure. The things we have done are very good for the future."
Wolves will aim for their first win in 16 league matches, and their first home win of 2012, when they host Barnsley at Molineux tonight.