The 24-year-old has four goals and one assist this season and has been one of Bournemouth's most influential attacking players.
But in last week's loss to Brighton the winger picked up his fifth Premier League yellow card of the season, and because it was before the 19th game of the campaign, Semenyo must now serve a one-match ban.
As a result, he will not make the trip to Molineux as the Cherries look to get back on track.
“Every team has injuries, has suspensions,” Bournemouth boss Andoni Iraola said.