The 25-year-old joins following a five-year stint with Valencia, and his most productive in Spanish football, where he netted 13 times and recorded six assists to guide his side into the top half of La Liga.
Capable of playing on the left and coming inside on his favoured right foot, Guedes has also operated wide right and centrally for Valencia, where he has become a key figure under Jose Bordalas.
Guedes is a product of the Benfica academy, where he rose through the system under the watchful eye of Bruno Lage, who served as a youth coach at the Portuguese club, and the pair are now reunited at Molineux.
A senior debutant at the age of 17, Guedes was fast-tracked into the first-team, and bagged his first senior goal on in September 2015, with now Wolves teammates Nelson Semedo and Raul Jimenez on the pitch in Benfica red.
Welcome, Gonçalo!— Wolves (@Wolves) August 8, 2022
Just four days later Guedes was becoming the youngest Portuguese player to net in the Champions League group stage, during a period the prospect was named Segunda Liga Breakthrough Player of the Year, such was his impact at a young age.
Three consecutive Primeira Liga titles saw potential turn into silverware for Guedes, who earned seven team honours in total, which eventually led to a big money move to Paris Saint-Germain and a Ligue 1 title.
By the point of his move to Paris, Guedes was in the Portugal international picture, making his first of 32 senior caps in 2015, and his regularity in the squad has seen him link up with Wolves’ Portuguese contingent, including Ruben Neves and Joao Moutinho.
While time in France was brief for Guedes, he returned to form during a loan spell at Valencia, which became permanent in the summer of 2018, and 12 months later starred as Valencia beat Barcelona in the Copa del Rey final.
That same summer, the forward scored the winner against Holland to see Portugal lift the inaugural Nations League – one of seven international goals to his name, the most recent of which came against Czech Republic just two months ago.
During 176 appearances at Valencia, Guedes bagged 36 goals and laid on 30 assists, consistently producing in the final third during a successful period for the Portuguese, who will now appear in his fourth top European division in the Premier League.
Guedes arrived at Compton Park on Monday, and after completing his medical, will join Lage’s group for training on Tuesday, starting his latest chapter at Molineux.
Chairman Jeff Shi said: “We have been monitoring Goncalo for a long time and are very pleased to welcome him to Wolves. He has natural talent and has performed very well across Europe and for his country, and we think he is well suited to the Premier League.
“We are always looking to improve the squad with high quality, and have been patient to make sure we got the right player. Goncalo worked with Bruno at Benfica and played with many members of our squad previously, so we’re confident he will settle quickly into the group here.
“Very few transfers are ever straightforward, and this was no exception, with a number of clubs trying to secure the player right up until the last minute. Now, we are delighted that Goncalo is a Wolves player and look forward to giving him a warm welcome at Molineux this Saturday.”