The Canaries inability to score goals enabled Wolves to gain revenge for last season's play-off defeat at Carrow Road as they became the only team to get the double over Norwich this season.
The performance of young Ryan Jarvis - the youngest ever Canary at 16 years, 282 days old - provided the only bright spot for the home fans.
The Canaries kicked off attacking the River End goal and in a lively opening Craig Fleming was perhaps unlucky to be booked for a foul on Kenny Miller.
After 20 minutes in which both sides showed plenty of attacking flair, a quick break by Norwich ended with Gary Holt's shot being deflected just wide of the Wolves goal.
Mark Kennedy was a constant threat down the Wolves left wing and when he cut in just before the half-hour, City defenders were relieved to see his fierce right-foot shot clear the crossbar.
Mark Rivers went on a surging run through the inside right channel but fired over with Iwan Roberts well placed for a cross.
Man-of-the-match Kennedy rescued Wolves in first-half injury time when he headed the ball off his own goal-line to keep out Darren Kenton's header from Rivers’ right-wing corner. Paul Butler blocked Phil Mulryne's follow-up shot.
Wolves stepped up a gear at the start of the second half and took the lead in the 52nd minute when Robert Green was beaten low to his left by George Ndah's left-foot shot after the big striker had got the better of Malky Mackay.
Jarvis was inches away with a header on the hour when he got on the end of Adam Drury's left-wing cross.
Butler was booked for a foul on Holt but Matthew Murray safely gathered the resulting free-kick from Mulryne. Kenton then fired wide when set up by Mulryne.
Goalscorer Ndah made way for Dean Sturridge in the 67th minute and the substitute found the net in the 73rd minute when he got his head to Kennedy's left-wing cross after Denis Irwin had put the winger clear with a throughball.
There was time for Kenton to be booked for fouling Kennedy, for Green to save two Kennedy shots and for Shaun Newton to be replaced by Kevin Cooper before Kenny Miller completed the scoring with the last kick of the game as he rifled a left-foot shot past Green from eight yards to put the icing on the cake for Wolves fans.