"Tomasz obviously wants to play first-team football, and the manager was happy to see him get an opportunity elsewhere," Chief executive Jez Moxey told the club's official website.
"There was no point in having an expensive international player sitting in the stands.
"So we have been working hard to find him a club and subject to him passing a medical, he will join Tenerife for the remainder of this season.
"If Tenerife win promotion they have the option to buy Tomasz, but if they decide not to do that, then they will have to pay us a loan fee and he will return to Molineux for the start of season 2007-08." .