The striker, who has spent the last eight months on loan at Molineux, will sign a four-year deal to keep him in the West Midlands until 2023.
The Mexican striker has made a massive impact since joining on loan from Benfica in the summer and is the club’s top scorer with 15 goals in all competitions.
Since netting on Wolves’ return to the top flight against Everton in August, Jiménez has proved a key cog in Nuno Espírito Santo’s machine, being directly involved in more than 20 goals.
The 27-year-old has scored in memorable Premier League victories over Chelsea and Tottenham Hotspur, in what has been an impressive maiden season in English football.
Jiménez has also played a starring role in Wolves’ run to the FA Cup semi-final, netting in three of the four rounds en route, including the quarter-final win over Manchester United which set up Sunday’s Wembley semi-final.
Having formed a dangerous strike partnership with Diogo Jota, Jiménez has offered more than just goals, laying on seven assists for his team mates in a series of impressive ‘number nine’ performances.
Kevin Thelwell, Wolves sporting director, said: “The impact Raúl has made during his short time at the club has been fantastic and we’re delighted that he’ll be part of the club’s long-term future.
“From the second he walked through the door, he settled straight into the group, and that reflects in his performance, with Raúl providing assists and overall selfless performances, as well as obviously goals.
“His goals in the Premier League and FA Cup have been vital to this season’s success and we’re looking forward to seeing him contribute even more during what will be an exciting end to the season in both competitions.
“Raúl’s permanent signing shows the ambition of this football club and the determination to make sure the future is an exciting one.”
