The current squad may be fighting for their lives in the second tier, but today marks the day - 59 years ago - that Wolves were crowned English champions for the first time.
Wolves, who had finished as league runners-up three times in their history, beat local rivals West Bromwich Albion to the title, thanks to a final day victory at home to Tottenham Hotspur.
Stan Cullis' side could have wrapped up the league the previous midweek - Easter Tuesday - when thousands of Wolves fans made the trip to Yorkshire in the hope of seeing their team win the title.
Although a solitary Wolves goal from Dennis Wilshaw was cancelled out by a goal in each half for the home side - the winner came from future Wolves boss Bill McGarry - the disappointment of the defeat was soon forgotton when news came through that Albion had been hammered 6-1 by Aston Villa.
That scoreline meant that the Black Country rivals went into the final day fixtures separated by two points, with Albion needing a huge victory away at Portsmouth to deny Wolves the title, while Cullis' side could seal the championship with victory against Spurs.
As it was, the Baggies were defeated at Fratton Park, and a Roy Swinbourne double was enough to beat Spurs and ensure that Wolves won the title by a four-point margin.
Billy Wright (pictured with the trophy) skippered the team to glory, and he, along with team-mates such as Bill Slater, Johnny Hancocks, Jimmy Mullen and Bert Williams, went down in Molineux folklore.
That triumph was the first of many in what was the most successful decade in the club's history - with Cullis at the helm, Wolves went on to win the league title on a further two occasions in the 1950s, in 1957/58 and 1958/59.
They also won the FA Cup - the club's fourth - in 1960.