In an interview with KLTA 5 News, the actor insisted that the ABC series has a strong chance of being renewed.
"Ultimately there are questions that will be answered in the [second season] finale, but it is not serving as a series end," he claimed. "Our story is not complete."
He also confirmed that several regular characters will be killed off in the instalment.
"There are huge goings-on, huge reversals of fortunate for most of the main characters and... at least one main character who you have come to know and potentially love will not survive."
Wolf previously hinted that his own character, unscrupulous journalist Chad Decker, will survive the finale.
The second season of V will conclude on March 15.