Mick McCarthy has swoooped in for the Dutchman after contract talks broke down at Premier League new boys Swansea.
De Vries has signed a three-year contract after agreeing personal terms and passing a medical at Molineux.
The 30-year-old will help fill the void left by Marcus Hahnemann's departure and provide cover and competition for number one Wayne Hennessey.
De Vries, who is the club's second signing of the week following the arrival of Jamie O'Hara, is delighted to make the move to Molineux.
"I'm really pleased and positive about the move," De Vries told the club's official website.
"As soon as I got the call from Wolves I had a really good vibe about it and a positive feeling.
"I thought this would be the fresh step I need in terms of progressing.
"That's all I look for as a player - to progress every year on and off the pitch both as a goalkeeper and as a person.
"This is a totally different challenge for me.
"Wolves are a club with all the fundamentals in place to grow and expectations are higher than at Swansea at this moment in time."
De Vries admitted it was a tough decision to leave Swansea after helping them win promotion to the Premier League last season.
"It was a difficult decision for to leave Swansea and did cause a few sleepness nights," added De Vries.
"I had a great time at Swansea and a great relationship with all the guys there who I have worked with for the last four years.
"Swansea is a great club throughout and have got a great squad and I wish them all the best
Swansea have already lined up a deal for Polish goalkeeper Grzegorz Sandomierski to replace De Vries at the Libery Stadium.
Source: Team Talk
Source: Team Talk