Shackell - who spent the back-end of last term on loan at former club Norwich - last figured for the first team in January's FA Cup defeat by Middlesbrough while Ward has not played since the Carling Cup exit at Rotherham last August.
The pair, up for sale at Molineux, featured in the goalless pre-season draw at Kidderminster on Saturday.
Shackell told the Express and Star: "You never say never in football, anything can happen at any time. I just carry on training and hope I can get some more game time under my belt."
Ward added: "Whenever I play for Wolves, at whatever level, I just want to do my best. Never say never."