Wylde was one of two players to leave financially stricken Scottish champions Rangers to help ease their financial worries, and Premier League outfit Bolton have moved quickly to secure his services.
Bolton are able to sign Wylde on a free transfer, although the 20-year-old's move is still subject to authorisation and clearance.
Wanderers manager Owen Coyle hopes Wylde's arrival will boost his side's hopes of avoiding relegation, with Bolton currently just one point above the relegation zone.
"To capture a player of Gregg Wylde's talent is a fantastic bit of business for the football club, especially given the interest that was shown in him by a number of other Premier League teams," he said.
"He is young, quick and exciting, and has played at a very high level with Glasgow Rangers, both domestically and in Europe. Gregg is a creator and scorer of goals. We are thrilled to have him on board and everyone is looking forward to working with him."