Wheater, 23, completed his first training session with the club on Thursday after signing a three-and-a-half-year deal following his move from Middlesbrough for an undisclosed fee and Coyle predicts a bright future for the Redcar-born defender, who was called up for England in 2008.
"I am absolutely delighted to bring a quality player to the club and a young player at that at 23," said Coyle. "He has already played in tremendous fashion in the Premier League and been involved in some England squads. We want to get him back to that level."
He added: "To do that he has to do well for Bolton. He is an exciting signing and shows again if we are going to spend money we are going to invest it in young players.
"I put across how we go about our work and he has bought into that. I was very impressed by him as a man outwith his footballing abilities.
"I had a great feeling when I chatted to him. He comes with a real hunger, a real desire to be the best he can and that augurs well for Bolton.
"David has a number of strengths. He is dominant in the air and comfortable on the ball. He can pass the ball well and is a good reader of the game."
Coyle emphasised that Wheater's arrival does not mean highly-rated Gary Cahill will be leaving Bolton.
"We only have Gary and Zat Knight as our centre-backs," said the Bolton boss. "With David coming it adds real strength and competition to that area.
"There is no situation with Gary. There has been no dialogue between me and any other managers. Hopefully that situation won't change."