Wolves have agreed a £27.5m deal with Valencia for forward Goncalo Guedes.
The 25-year-old Portugal international is due to fly in for a medical on Monday before signing a long-term deal.
Guedes was a summer target for manager Bruno Lage, but Wolves’ need for an attacker has become more pressing following Raul Jimenez’s injury that has ruled him out of the early season.
Hwang Hee-chan started up front for Saturday’s 2-1 defeat at Leeds, but failed to make much of an impression.
Only the three relegated clubs, Burnley, Watford and Norwich, scored fewer than Wolves’ 38 Premier League goals last term.
Guedes, who can play on the wing or as a striker, began his career at Benfica, before joining Paris St-Germain.
He moved to Valencia on loan in 2017, making the deal permanent a year later.