β-Hydroxy-β-methylbutyrate free acid (HMB-FA) has been reported to improve skeletal muscle recovery after high-intensity exercise and attenuate blood markers of skeletal muscle damage. Therefore, this study was conducted to determine the effect of HMB-FA supplementation on physiological recovery markers in elite wrestlers. Twenty elite healthy wrestlers (aged 19–26 years) were randomly assigned to Exercise + HMB-FA (EXE + S, n = 10) and Exercise + Placebo (EXE + P, n = 10) groups for a simulated wrestling protocol. Compared to the EXE + P group, the EXE + S group showed significant decreases in physiological recovery markers such as creatinine (Cr), 3-methylhistidine (3-MH), urinary 3-methylhistidine/creatinine ratio (3-MH/CR), lactate dehydrogenase (LDH), and creatine kinase (CK), with noticeable reductions (p < 0.05). Additionally, there were significantly reduce in cortisol, and significant enhancements in insulin-like growth factor-1 (IGF-1) and IGF-1/cortisol ratio in the EXE + S group (p < 0.05). Finally, the perceived recovery status (PRS) as another physiological recovery marker in the EXE + P group was significantly reduced compared to the EXE + S group (p < 0.05), indicating a negative impact on recovery without HMB-FA supplementation. HMB-FA may attenuate muscle damage and improve recovery by modifying the cortisol, IGF-1, and IGF-1 / cortisol ratio and increase PRS in the simulated wrestling protocol.