The 21-year-old has impressed greatly for the Black Cats and been instrumental in their League One promotion push.
But a back issue means the centre-half will now miss their final three games of the season – and their likely play-off campaign.
Sanderson posted on Twitter: "With a heavy heart I have to say I am unable to play for the remainder of the season due to injury.
"I would like to thank the manager, the players and the fantastic fans. I wish you all the best and will be supporting you all the way. Ha’way the lads."
With a heavy heart I have to say I am unable to play for the remainder of the season due to injury, I would like to thank the manager the players and the fantastic fans. I wish you all the best and will be supporting you all the way. Ha’way the lads @SunderlandAFC ❤️ https://t.co/WW0qYuIIrm— Dion Sanderson (@SandowRs) April 27, 2021
Sanderson, from Wednesfield, has made 26 appearances for Sunderland in the league this term and was previously hailed a 'Rolls Royce' by Black Cats chief Lee Johnson.
He has made one first-team appearance for Wolves.
Johnson added: "Dion will be out for six weeks. He’s a great kid, but the bit that most impressed me was how he stepped up in leadership and communications skills, which shows he has a bright future."
Meanwhile, fellow Wolves youngster Meritan Shabani – who has been out on loan at Dutch club VVV Venlo – has 'picked up a serious injury again'.
The full nature of the midfielder's injury is not yet known. He previously suffered an ACL injury, in his only first-team appearance for Wolves against Reading.
Shabani posted on Instagram: "Unfortunately I picked up a serious injury again but I’ll come back even stronger than the last time inshallah."