The 19-year-old left-back, who featured in the Europa League twice for his parent club this term, has joined the Championship outfit until the end of the season
The 19-year-old has made six appearances for the Reds this term, with two outings apiece in the Capital One Cup, FA Cup and Europa League but none in the Premier League.
The England Under-21 international could now come straight into the Wolves squad for Tuesday evening's clash with Barnsley, and will act as cover for Stephen Ward according to boss Dean Saunders.
"We've got no cover in that position with only Wardy [Stephen Ward] at the club and he was ill yesterday, so I've acted quickly and got the deal done," he told reporters.
"Jack has played for Liverpool this season and he's going to be a good player when he comes of age.
"He is aggressive and he's going to come and help us."
Robinson became Liverpool's youngest-ever player when he made his debut as a 16-year-old against Hull in the Premier League in May 2010.