Matheus Cunha will join Wolves from Atletico Madrid when the January transfer window opens, Julen Lopetegui has confirmed.
A deal between Wolves and Atletico for an initial loan with an obligation to buy had been reported, with Cunha undergoing a medical this week.
And Wolves coach Lopetegui announced the forward’s signing on Friday ahead of his side’s return to Premier League action against Everton.
Atletico boss Diego Simeone had already confirmed Cunha was set to leave the LaLiga giants.
“Today I have to talk about [Cunha],” said Lopetegui. “It’s clear he is going to be with us. It is going to happen once the market is open.
“Now, of course, he’s going to be our player, but [for] the next matches, we have to focus on the players that are here. They have to play against the rest of the teams.
“He’s a good player. I know him, and I think he’s a good signing for us for the present and also for the future.
“He is a very complete forward. He has a good condition, good skills, not only technically but physically. This is England, and in the Premier League you have to be a very complete forward if you want to survive.
“I think he has this profile to play here for a lot of years. Of course, we are going to help him to develop his strengths in the future.”
Cunha won Olympic gold with Brazil at Tokyo 2020, but he was not part of the Selecao squad for the World Cup after starting just 10 LaLiga games for Atletico after signing from Hertha Berlin in August 2021.
Wolves hope Cunha, who will reportedly cost £34million (€40m) at the end of the season, can help lift them off the foot of the Premier League table.