Graham is set to miss up to a year, after damaging his anterior cruciate ligament, in what is a big blow for the Midlands side.
The 20-year-old winger has been highly impressive in every appearance he has made for Wolves so far, and Jackett has backed the youngster to bounce back from this set up as a stronger player.
“It is disappointing for Jordan and disappointing for the club because recently he has been a shining light in a difficult season so far,” Jackett said.
“The way he had come into the team after we hadn’t really been able to fill that Sako void in the way the fans wanted to was very impressive.
“He took it by storm and consistently delivered performance after performance.
"But Jordan is a grounded lad who has a good head on his shoulders and I am sure he will get through this and recover without any problems."
Graham’s injury comes at the worst time possible for him, as he was just starting to make a name for himself at Molineux.
The winger had made 10 senior appearances in the Championship prior to picking up the injury against Cardiff City.
During his time on the pitch, Graham had become Wolves’ main creative outlet - setting up six goals and scoring once, as he quickly adapted to playing in the first team.
Graham’s good form had seen him linked with Newcastle United and Liverpool in the Daily Mail, but any potential move has now been put on hold until he returns to full health.