What does a white wolf symbolize in dreams?

The colour white symbolizes spiritual well-being, innocence, or cleansing.
Wolves may appear in dreams when one has lost faith on a quest for something; the wolf appears to guide them and renew their hope.  

Another Perspective

Wolves in dreams are interpreted as an image of man, an embodiment of reckless aggression and problems in sexual restraint.
He is sometimes seen as the lonely seeker, or the wild and unrestrained part of man. Christianity has used him as a comparison to the false prophet and heretic.
Jung claimed wolf was wilder than the lion or the dog symbols and Freud sees it as either a devourer or a father substitute.
However there are some who see the female wolf as a nurturer as in the she-wolf that suckled Romulus & Remus.
Some Native Americans see wolf as the teacher, pathfinder, the loyal one, the bringer of medicine and the embodiment of society (the pack), family bonds and as the teacher of Earth wisdom.


I would interpret a white wolf as the spirit of the earth teacher, bringing strong family bonds and loyalty into your life.
There may be much you can learn from the white wolf and now would be the time to start looking into it.
Sometimes Dr. Freud a cigar is just a cigar, so I wouldn't worry too terribly over the other interpretations.