Adama Traore scored his first goal of the season in injury time to end Southampton’s late challenge and earn Wolves their third win in four Premier League games.
The home side looked comfortable after Raul Jimenez and captain Conor Coady put them in control.
Jimenez scored his first goal since November from the spot, after Rayan Ait-Nouri was brought down by Jan Bednarek.
Coady headed in from close range for his second goal of the season after Fraser Forster’s positional error.
James Ward-Prowse’s stunning free-kick set up a tense finale at Molineux, before Traore made sure of the points with a calm finish late on.
Victory for Wolves has moved them back into eighth in the table, while Saints are seven points behind in 12th place.
Saints had started brightly but were denied the lead by an inspired Jose Sa, who made several impressive first-half saves in the Wolves goal.
