The attacker spent the second-half of last season on loan from the Premier League side and instantly became a firm fans’ favourite.
Afolayan made 21 appearances for the Wanderers last term and scored his first goal for the club during the 4-1 victory against Crawley Town on the final day of the season.
After signing his three-year contract with the club, Afolayan told bwfc.co.uk: “I’m delighted to have made the move permanent. Since I joined on loan at the end of January, it has been amazing. For me, it’s the best thing for me to do – to keep playing regularly for a club that has embraced me.
“It was only right for me to repay that loyalty back to the club, back to the manager and the owners, and the fans as well.”
Manager Ian Evatt added: “Dapo has shown that he is a very talented young footballer.
”It’s my job to get assets on the football pitch for Bolton Wanderers and Dapo is certainly an asset.
“Hopefully we can take Dapo where he wants to go and vice versa with Dapo taking the club to where it should be.”
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