
The 27-year-old is Wolves head coach’s Nuno Espírito Santo’s first signing of the off-season. The Mexican signed on a 12-month loan.
“Wolves have secured the signing of Mexico and SL Benfica forward Raúl Jiménez, subject to international clearance and work permit,” a statement on Wolves’ website confirmed.
It is reported Wolves have an option to buy him for around £30 million (RM160 million) at the end of next season.
Jiménez, who previously played for Atlético Madrid, has earned 62 caps for Mexico and is currently in Russia on World Cup duty.
He won back-to-back Primeira Liga titles with Benfica in his three years in Portugal and plays at centre-forward for his country.
He scored 31 times in 120 appearances for Benfica, averaging a goal or assist every 75 minutes in last season’s Primeira Liga-winning campaign.
Jiménez has 22 Champions League appearances to his name, as well as Taça de Portugal, Taça de Liga, and Supertaça Cândido de Oliveira titles.
Jiménez previously played for boyhood side Club America before moving to Atlético Madrid for the 2014-15 season.
Meanwhile, Wolves have allowed DR Congo striker Benik Afobe to join Championship side Stoke.
Afobe will move to Stoke on an initial six-month loan, followed by a permanent switch in January.