The 6-foot-4 Wolters was signed on Jan. 14, two days after starting point guard Jrue Holiday was sidelined by soreness in his lower right leg. Wolters has played in five games with New Orleans, averaging 2.6 points and 2.2 rebounds in 11 minutes per game.
Wolters played 14 minutes during the Pelicans' 92-84 victory in Minnesota on Friday night, scoring five points with a pair of rebounds and an assist.
Once Wolters' second 10-day contract expires, the Pelicans must either sign him for the remainder of the season or waive him.
Wolters was a second-round draft pick in 2013 and draft-day trades sent him to Milwaukee, where he appeared in 69 games.
The Pelicans announced Wolters' second 10-day deal on Saturday.