Last season’s Championship winners have wasted no time in recruiting ahead of their return to the top flight, signing the Congo international for a reported £12.5million.
Afobe spent the second half of last season at Molineux, scoring six goals in 16 outings for Nuno Espirito Santo’s men.
This will be the start of his second spell with the Midlands-based club, having signed from Arsenal in January 2015.
He enjoyed a prolific run of form in front of goal, scoring 23 goals in 48 games.
As a reward for his scintillating form, he was offered the chance to play in the Premier League with Bournemouth – who signed him for a then-record £10 million.
However, loss of form meant he started just 14 games in the 2016-17 season under Eddie Howe.
Willy Boly, the defender, has also been signed by Wolves on a permanent basis following his loan spell in which he made 37 appearances.