Randall joins Wolves from Swindon Town, and he knows Byrne from the time they spent together at the County Ground.
Byrne joined Wolves from the Robins in the summer, and Randall says that the right-sided player only had positive things to say about Kenny Jackett’s side.
“I spoke to Nathan when I was here yesterday and he had great things to say about the club,” Randall said.
“Looking at him in training and all the other first team players here will help me learn more about the club and the style of play and then push on from there.”
Randall becomes Wolves’ first signing of the January transfer window.
He is expected to go into Wolves under-21 team, as he has only made a handful of professional appearances during his career to date, but Jackett has high hopes for the winger’s future.
Randall could be the first of a number of additions that Wolves make during the coming weeks.
The Molineux-based side have been linked with a vast amount of players already, and they have money to spend following the departure of Benik Afobe to Bournemouth.