O'Hara enjoyed a successful loan spell at Molineux during the second half of last season, scoring three goals in 13 games.
An agreement was already in place for O'Hara to make the £5 million move to Wolves should the player and manager Mick McCarthy want that to happen. That is the case and the finer points of the contract - expected to be for four or five years - should be tied up imminently according to sources close to the club.
O'Hara was often used effectively just behind the main striker in a 4-5-1 formation as Wolves guaranteed Barclays Premier League football for a third successive season.
McCarthy is also interested in signing Liverpool left-back Paul Konchesky who spent the second half of last season on loan to Nottingham Forest.
The Wolves boss is also looking for a new keeper as back-up for Wayne Hennessey after Marcus Hahnemann was released at the end of last season.
Source: PA
Source: PA