The 23-year-old completed his medical on Friday after Wolves had their £10m deal accepted with AZ Alkmaar.
The Norwegian international is thought to be a direct replacement for Rayan Ait-Nouri, who swapped the Molineux for the bright lights of the Etihad Stadium.
Wolfe will reunite with international teammate Jorgen Strand Larsen and will be playing left-wing-back in Vitor Pereira’s system.
Wolves have jetted off to Spain ahead of another pre-season friendly as Wolves take on Girona, but Wolfe will not join up with them this weekend.
However, Wolfe will join up with the squad next week before Wolves' final pre-season friendly and is expected to make his debut for the club at the Molineux against Celta Vigo.
After playing in 31 league matches last season, Wolfe grabbed himself two goals and five assists from left-back.
His style of play and how will that make an impact at Wolves?
Last season, Wolves benefited from Ait-Nouri being able to bring the ball up and create chances. Wolfe averages 2.70 touches in the oppositions box per 90 as well as 3.06 progressive carries per 90.
To compare this to Rayan Ait-Nouri’s stats, he was averaging 2.78 touches in the oppositions box per 90 and 2.58 progressive carries per 90; meaning that Wolves will clearly still benefit from wing-backs being able to bring the ball up and create chances.
The Norwegian is a very effective ball carrier and definitely thrives in making overlapping runs, especially when paired with a wide 10 (perfect for Wolves' system).
After replacing Milos Kerkez as the Dutch side’s regular left-back, Wolfe featured in 45 games last season, playing a part in every Eredivise and Europa Conference League Fixture.
Agent JSL strikes once again
The move for Wolfe means he will be reunited with his international teammate Jorgen Strand Larsen.
“I have spoken to Jorgen [about the move]. We spoke for the first time about it a couple of weeks ago and then a couple of days ago again,’ he said.
He only has positive things to say about the club, about the people in the club, about the fans and about the city. So, I can’t wait to see his face and train with him again.
“I’m very excited because me and Jorgen have a very good link outside of the pitch, so let’s hope to build on that together also on the pitch.” The defender told the club website.
After 190 appearances by the age of 23, Wolfe is now set to face the Premier League for the first time.