Both goals were close-range finishes and came from Craig Fagan on 13 minutes and Stuart Elliott with 15 minutes left as the Tigers held on for a much-needed victory as they attempt to move away from the relegation zone.
Jon Parkin tested Matt Murray early on as his turn and looping shot inside the box forced the Wolves keeper to pull off a good save, tipping the ball over the bar.
Parkin then had to be substituted as he picked up an injury on nine minutes as he landed awkwardly after challenging for a header.
Hull managed to take the lead on 13 minutes with Danny Mills lofting in a free-kick from the centre circle and Damien Delaney flicked the ball onto Fagan who slotted the ball home from close range.
The home side nearly doubled their lead minutes later as Delaney played in a neat cross from the left but substitute Nicky Forster couldn't capitalise as he headed the ball just over the bar.
Wolves came close to levelling in the latter stages of the half as Leon Clarke got round Boaz Myhill on the by-line and played the ball back to Jamie Clapham who, with only a defender to beat on the line, crashed his shot against the side-netting from close range.
Wolves substitute Jemal Johnson found himself through on goal early in the second half as he nicked the ball off Michael Turner on the edge of the box and tried to go round Myhill.
However, the Hull keeper did well as he got his hands to the ball forcing Johnson to pass the ball to Carl Cort whose shot was easily defended.
Hull then doubled their lead on 75 minutes as Fagan raced down the right, got to the by-line and fired in a low cross which Elliott crashed into the net from inside the six-yard box.