The well travelled manager will arrive in Molineux to complete his deal to take over from Gary O'Neil, who was sacked on Sunday after four straight defeats.
He has a big task on his hand with Wolves leaking goals and currently languishing in 19th place in the Premier League table.
Pereira has managed all over the world and had success in a number of countries, but the Premier League and a relegation battle in the top flight is another challenge in itself.
So, how is he going to go about it? He gave some insight into how he likes to set his teams up, when he appeared on The Coaches' Voice back in March this year.
In a ten minute video, Pereira broke down the principles of how he likes his teams to play, and focussed on his side at FC Porto, which included former Wolves favourite Joao Moutinho.
"The most important quality for me in football is intelligence," stated Pereira, who went on to discuss his offensive principles and how he likes his sides to attack.
He explained: "Offensive principles, the first is to dominate the pace of the game with possession.
"Sometimes we do that with a diamond, sometimes with a square, and we want players in the centre of the game to control the ball.
"We have four players in the middle and they are supporting the ball everywhere, and we try to create different solutions to build the play.
"For us, an offensive trigger was the moment where we felt we were attracting them.
"We would slow the game down and attract them, cook the play with this kind of movement, and as soon as we felt pressure we would accelerate the game with a pass forward."
Pereira was discussing his side between 2011 and 2013 at Porto, where he won two league titles and a UEFA Super Cup, before he went on to have success in Greece and China.
Elsewhere in the analytical coaches' video, he also discussed his defensive principles and these are the topics that should interest Wolves fans the most.
Wolves have conceded 40 goals this season, four more than the next side in the goals against column.
"Another principle when we have four in the middle is finding solutions when we have lost the ball," he added.
"We want pressure on the ball to get it back again.
"We want to be aggressive to catch the ball as soon as we can and attack again.
"Out of possession, when they start to play, if the goalkeeper has it we want our winger to jump high on the attacking side onto the best foot of the goalkeeper, and then if we show him inside we have a play in there to jump in and we adjust to different sides.
"We also put our striker on one centre back and invite them to play from one side.
"We decide that if they have more problems on one side, we invite them to play from the other.
"We have those different rhythms when we are attacking to slow the game down, cooking the game.
"When we are defending it is the same. We are compact, waiting for the trigger when they do we want to invite them to do it, and in this moment we can accelerate and be aggressive to recover the ball.
"If the quality of the ball beats the pressure and they to go the other side, in that moment we want to be compact, organise the team and have the conditions to press again."