The Portuguese-born winger has committed himself to Wolves on a five-year-contract with the option for a further year.
At just 22-years-of-age, the attacker arrives at Molineux with Primeira Liga, La Liga, Europa League and Champions League experience, as well as an extensive number of appearances for the Portuguese national team across the various age categories.
Having joined Benfica in 2007, Cavaleiro is a product of the Primeira Liga side’s youth system, making his senior debut for the club in October 2013 against Olympiacos in the Champions League.
Prior to his involvement with the first team, the winger impressed with Benfica B in the Portuguese LigaPro, scoring 22 goals in 56 appearances.
Cavaleiro spent the 2014/15 season on loan with La Liga side, Deportivo La Coruña, making 34 appearances during the campaign and scoring on his debut for the club.
The youngster joined AS Monaco in June 2015 where he has since made 17 appearances and netted on two occasions.
Speaking after arriving at the club, Cavaleiro said: “I am very happy to be here, knowing that a good team want me and I’m very excited for this new challenge.
“I knew the club wanted me when I was in Portugal on my holidays. My agent called and told me and said that I could be part of Wolves this season.
“He told me that the club has got a new challenge this year – to go up to the Premier League. It’s a good challenge for us so it’s exciting and I want to help the team join the Premier League."
When asked to describe himself as a player, Cavaleiro replied: “I’m a player who likes to go one v one, I like to run into space to get goals and I’m a team player.
“Every forward and winger likes to score goals. It’s important for hour head and to help the team too."
The winger played alongside fellow new arrival Helder Costa at Benfica and AS Monaco and Cavaleiro explained that Costa's recommendation played a big part in his transfer.
“Helder has told me he’s really enjoyed it since he arrived here," he explained.
“He said it’s a good club, good supporters, everybody has treated him really well and everybody has given him a good feeling about the club.
“That’s very important to me that the other players are here because I lived and played with Helder when we were at Benfica.
“It’s helpful to have other people who can speak Portuguese here because they can help me learn the language."
