Michael Kightly is to undergo a medical at Stoke ahead of finalising a move to the Britannia Stadium, with the Potters confirming that a fee has been agreed.
Sky Sports revealed on Monday that the Potters had reached an agreement with Wolves for the highly-rated midfielder.
Stoke saw an initial offer for the 26-year-old knocked back, but refused to give up on a top transfer target.
Kightly has just one year left to run on his contract at Molineux and was expected to attract interest this summer following Wolves' relegation out of the Premier League.
He has struggled with injury troubles in recent years, but returned to fitness last season and impressed during a loan spell at Watford and on his return to the Wolves side.
Stoke are ready to offer him the chance to step back up into the top-flight and will look to tie up a deal once he has undergone physical examinations.
"Stoke City have today confirmed that they have agreed a transfer fee to bring Michael Kightly to the Britannia Stadium," read a statement on the club's official website.
"City have reached an agreement with Wolverhampton Wanderers over an undisclosed fee for the England Under-21 international.
"The 26-year-old midfielder is now due to have talks over personal terms with the Club and undergo a medical in the next 24 hours."