The 23-year-old was yesterday suspended for four months by the FA, after testing positive for a non-performance enhancing substance.
But with the ban backdated to April 21 – the date of the original suspension – and the rest suspended for two years, the stopper is once again available for selection and will make his return for the under-21s at Corby Town today.
McCarey, who stated throughout he had not knowingly taken the substance, admits he feared at one stage his career might be over.
“It’s been a massive learning curve and not a very nice experience to go through,” he said.
“I think I have dealt with it with a lot of dignity and treated the club with a lot of respect. I have been very honest with them from the start.
“It has been a massive learning curve in life and has made me even more determined than ever to succeed as a professional footballer.
“It is a second chance, if you like and I am really grateful to have it.” At one point I thought my career was finished. It has been a long three months.”
McCarey thanked the club and fans for their support but admitted it will take time to fully restore his reputation, adding: “I understand some fans will always have a question and maybe not believe I am saying.
“But until you are in this situation it is very hard to make a conclusion with not knowing the whole story.
“I’m sorry the good name of the club has been dragged into this situation but hopefully this will draw a line under it and we can move on.
Yesterday’s ruling followed an FA investigation following the failed test.
Wolves head coach Kenny Jackett said: “Aaron has maintained all along that he has no idea how the drug entered his system.
“Medical and scientific analysis, commissioned by the Professional Footballers’ Association (PFA) on behalf of Aaron, and including a hair follicle test requested by the player himself, also showed that the trace amount was very small and backed up Aaron’s statement.
“However, all of our players are aware of the Club and the FA’s policy when it comes to substance abuse, and all are responsible for anything which enters their body.
“So while we have supported Aaron throughout, both he and the Club understand and accept today’s sanction from the FA.”