The 29-year-old has struggled to secure a starting berth under Tony Pulis so far this season and has dropped down to the League Championship in search of first-team soccer.
The 29-year-old Englishman has struggled to gain a place in Tony Pulis' side so far this season, making just two appearances in all competitions. He has now taken the opportunity to drop down to the English second tier with the Midlands outfit in order to get some playing time.
Earlier on Friday, the former Liverpool wideman expressed his desire to go out on loan, but he insisted he had not had crossed words with Potters boss Pulis.
"The gaffa said I can go out on Loan to get some games! I was as shocked as much as some of you's will and I can promise we have not fell out," Pennant wrote on Twitter.
"Can't go premier league only can go abroad or championship and I'm only agreeing until jan so be gone for 2 months or so. Stokies ill keep you updated I'm not gonna lie I'm gutted like but I gotta play!!"
Wolverhampton has had a winger injury crisis, paving the way for the emergency loan.
"(Manager Stale Solbakken) wanted to find a high-quailty replacement for our injured wingers, and we're very pleased Stoke have agreed for Jermaine Pennant to join us on loan for an initial three-month period," Wolves CEO Jez Moxey told the club's official website. "He is a high-quality player, and Stale is delighted to have secured his services until at least the new year."