The hosts were rampant against Felix Magath's team, who had Diego Benaglio to thank for a string of saves that limited the scoring
Raul, a Klaas-Jan Huntelaar double and Joel Matip gave the hosts their commanding advantage, but the match was characterised by a string of missed chances from both teams.
Given the emphatic nature of the scoreline, it is perhaps surprising that the first clear opening fell to Wolfsburg.
Petr Jiracek went on a superb run down the right, but as the visitors' attacking force were lining up to tap his cut-back home, Atsuto Uchida turned the ball behind.
However, at that point, Schalke took over. Uchida turned defensive saviour to provider, motoring down the right before crossing to Julian Draxler, whose volley struck the woodwork.
The hosts were not made to wait long for their lead though. Jefferson Farfan swung in a corner, Matip flicked the ball on at the near post, and Raul was left with a simple tap-in.
Minutes later, it was two. Christian Fuchs made a great run to reach Marco Hoger's ball, before cutting it back to Huntelaar, who tapped it past Benaglio to double his side's advantage.
Despite being 2-0 down, Wolfsburg began to craft chances. A poorly-cleared set-piece gave Felipe the chance to volley his side back into the game, but the Brazilian screwed his strike wide.
Another defensive lapse allowed Yohandry Orozco a clear run at goal, but Lars Unnerstall charged off his line to block the shot. The rebound found its way to Mario Mandzukic, who contrived to clear the bar from a matter of yards.
At the other end, some great work Draxler set up Farfan for a volley, but the Peruvian's shot was blocked by Felipe's hand. The referee pointed to the spot, and issued the Brazilian a yellow card for his troubles, but Huntelaar's penalty was blocked by Benaglio's elbow.
The Swiss goalkeeper was having a terrific day in the Wolfsburg goal, and it continued on the stroke of half-time as the ever-lively Draxler pulled the ball back to Huntelaar, who was unable to find a way past the 28-year-old once more.
Any chance of a Wolfsburg revival were ended shortly after the break. Kyriakos Papadopoulos headed a corner down to Matip, who sent an acute backheel past the onrushing Benaglio.
Benaglio then denied once Huntelaar again, before the Dutchman finally scored his second of the afternoon.
Christian Fuchs' initial cross made its way back to the Austrian, but his next attempt found Huntelaar perfectly, leaving the the 28-year-old to head the ball into the top corner.
Timo Hildebrand denied Sebastian Polter late on, leaving Papadopoulos to hook the ball off the line in an afternoon where Schalke gave nothing away, before Ciprian Marica missed a golden opportunity late on for the hosts.
It was to matter little, however. An assured performance made sure that Schalke kept up with the Bundesliga leaders and restored the eight-point gap between themselves and Werder Bremen in fifth.