Andy Carroll celebrated the first anniversary of his £35m move to Liverpool by setting the Reds on their way to victory at Molineux.
Carroll, 23, prodded in at the far post at the start of the second half to open the scoring in the Premier League game.
Craig Bellamy added a second with a low finish and Dirk Kuyt scored a third after a quick break.
Victory breathes life into Liverpool's Champions League hopes but Wolves are now without a win in nine games.
It was just Carroll's seventh goal since his move from Newcastle on transfer deadline day last year, with five of that total coming in the Premier League.
He has struggled for fitness and form and has lost his place in Fabio Capello's England squad.
But, with Luis Suarez set to return from his eight-match ban against Tottenham next week, this was an ideal response after Liverpool
had to deny reports
they had offered him to Manchester City in a potential swap deal for Carlos Tevez.
Carroll won praise for his performance in the
2-1 FA Cup win over Manchester United
and once again grew in confidence after giving the Reds, who were without rested captain Steven Gerrarrd, the lead.
Kenny Dalglish delighted with Liverpool's approach at Wolves
The striker only had one half-chance in an open first half and Bellamy posed Liverpool's greatest threat.
The Welshman prodded wide from a fine through ball from Jordan Henderson, had a free-kick held by Wayne Hennessey and was denied on two further occasions by the Wolves goalkeeper.
For the home side, Michael Kightly, having scored his first Premier League goal in the 3-2 defeat by Aston Villa, carried on his good work against Liverpool.
The winger clipped in a great cross that David Edwards prodded straight at Pepe Reina and also took a quick corner that was headed on to the roof of the net by Steven Fletcher.
Did you know?
Other than Dirk Kuyt, only four other players (Robbie Fowler, Michael Owen, Steven Gerrard and Fernando Torres) have scored 50 Premier League goals for Liverpool.
And Kightly was involved again as he drove just wide of Reina's goal after swapping passes with Fletcher.
At the other end, Hennessey did well to deny Kuyt at the start of the second half, but Liverpool took the lead six minutes after the restart.
Bellamy's quick throw was collected by Charlie Adam, who whipped a cross to the far post for Carroll to beat Eggert Jonsson to touch in at the far post.
Shortly after the hour, as Wolves backed off, Bellamy hit a shot from just outside the area that squirmed past fellow Welshman Hennessey for the striker's sixth goal in seven Premier League starts.
Wolves were reeling and they conceded a third after a Liverpool counter-attack that started on the edge of their own area and ended with Adam rolling a pass to Kuyt, who finished from a narrow angle to score his 50th Premier League goal.
McCarthy accepts blame for defeat
It was the fifth consecutive home game in which 19th-placed Wolves have conceded two or more goals, although Mick McCarthy's side came close to a consolation when substitute Sylvain Ebanks-Blake hit the post from distance.
Wolves were booed off at the final whistle, with one fan unveiling a "Mac Out" banner.
Wolves manager Mick McCarthy:
"We were doing OK, had a corner and didn't mark on the edge of the box and defended poorly for it. That lifted them.
"We've had so many knock-backs that it's bound to be a huge disappointment and the reaction was that. I was trying to get fresh legs on - because of the shape we couldn't get the ball back.
"[The fans' reaction] is fully understood and the last 35 minutes were unacceptable. We were getting a real chasing but they're a great bunch of lads, work their socks off for me and the club, and the shape that I had was making it difficult.
"But I was never going to accept keeping it 4-5-1, defend, and lose 2-0 so I take the blame for the last 35 minutes."
Liverpool manager Kenny Dalglish:
"We had a very thoroughly professional, high-quality performance, and the players deserve great credit after the two victories we've had.
"We thoroughly deserved the victory and the boys were a credit to the club. We're pleased with everybody.
"The first goal was a great ball in from Charlie Adam and a great finish from Andy Carroll who played really well. He's a Liverpool footballer and he will make a contribution for us many times.
"He flicked on one on Saturday for Dirk Kuyt to score against Manchester United and did the same for Craig Bellamy at Bolton. If he gets a goal he gets a goal, but his contribution is fantastic."
Jonjo Shelvey gives away a free kick for an unfair challenge on Stephen Ward. The free kick is delivered left-footed by Nenad Milijas from left wing. Sanchez Jose Enrique challenges Stephen Hunt unfairly and gives away a free kick. Stephen Hunt crosses the ball in from the free kick.
Free kick awarded for a foul by Sylvan Ebanks-Blake on Jordan Henderson. Free kick taken by Jose Reina.
Substitution (Liverpool) makes a substitution, with Fabio Aurelio coming on for Dirk Kuyt.
Andy Carroll takes a shot. Save by Wayne Hennessey.
Short corner worked by Stephen Hunt.
Kevin Foley sends in a cross, save made by Jose Reina. Corner taken by Nenad Milijas played to the near post, clearance by Jamie Carragher.
A cross is delivered by Jordan Henderson, save made by Wayne Hennessey.
Sylvan Ebanks-Blake has an effort at goal from outside the penalty area that bounces off the post.
Craig Bellamy takes the outswinging corner, Close range headed effort by Andy Carroll goes wide of the left-hand post.
Substitution Emmanuel Frimpong goes off and Nenad Milijas comes on.
Substitution Jamie Carragher comes on in place of Daniel Agger.
Substitution Jonjo Shelvey on for Charlie Adam.
The assist for the goal came from Charlie Adam.
77:07 Goal scored
Goal - Dirk Kuyt - Wolves 0 - 3 Liverpool A goal is scored by Dirk Kuyt from deep inside the penalty box to the bottom right corner of the goal. Wolverhampton 0-3 Liverpool.
The ball is delivered by Matthew Jarvis.
Corner taken by Charlie Adam from the right by-line, Craig Bellamy takes a shot. David Edwards gets a block in.
Dirk Kuyt takes a shot. Wayne Hennessey makes a save.
Glen Johnson takes the direct free kick.
Booking David Edwards shown a yellow card.
Foul by David Edwards on Glen Johnson, free kick awarded.
Charlie Adam gives away a free kick for an unfair challenge on Emmanuel Frimpong. Direct free kick taken by David Edwards.
Roger Johnson restarts play with the free kick.
Booking Daniel Agger goes into the referee's book for unsporting behaviour.
Free kick awarded for an unfair challenge on Steven Fletcher by Daniel Agger.
Corner taken by Craig Bellamy. Daniel Agger produces a header from deep inside the six-yard box which goes wide of the right-hand post.
Craig Bellamy takes a shot. Roger Johnson manages to make a clearance.
The ball is swung over by Jordan Henderson, clearance by Kevin Foley.
Effort on goal by Charlie Adam from inside the area goes harmlessly over the bar.
Free kick awarded for an unfair challenge on David Edwards by Jordan Henderson. Direct free kick taken by Kevin Foley.
Shot from outside the box by Andy Carroll misses to the left of the goal.
Substitution Sylvan Ebanks-Blake on for Eggert Jonsson.
Substitution Michael Kightly goes off and Stephen Hunt comes on.
Jay Spearing provided the assist for the goal.
60:02 Goal scored
Goal - Craig Bellamy - Wolves 0 - 2 Liverpool Craig Bellamy gets on the score sheet with a goal from the edge of the area to the bottom right corner of the goal. Wolverhampton 0-2 Liverpool.
Steven Fletcher produces a cross, clearance by Glen Johnson.
The official flags Dirk Kuyt offside. Roger Johnson restarts play with the free kick.
Charlie Adam provided the assist for the goal.
Assist on the goal came from Charlie Adam.
51:53 Goal scored
Goal - Andy Carroll - Wolves 0 - 1 Liverpool Andy Carroll scores a goal from close in to the bottom left corner of the goal. Wolverhampton 0-1 Liverpool.
Outswinging corner taken by Michael Kightly, Daniel Agger makes a clearance.
The ball is crossed by David Edwards, Sanchez Jose Enrique gets a block in.
The second half has started.
Jordan Henderson takes a shot. Wayne Hennessey makes a save.
45:00 +1:31 Half time
Half Time The first half comes to an end.
Jordan Henderson produces a right-footed shot from just outside the box that misses to the right of the net.
Andy Carroll takes a shot. Blocked by Stephen Ward.
The assistant referee signals for offside against Craig Bellamy. Indirect free kick taken by Christophe Berra.
Michael Kightly takes a outswinging corner from the right by-line played to the near post, clearance made by Jordan Henderson.
Matthew Jarvis produces a cross, Jay Spearing manages to make a clearance.
Andy Carroll concedes a free kick for a foul on Roger Johnson. Free kick taken by Wayne Hennessey.
Effort from the edge of the area by Michael Kightly goes wide of the right-hand post.
Dirk Kuyt produces a cross.
Craig Bellamy takes a shot. Save by Wayne Hennessey.
The ball is swung over by Sanchez Jose Enrique. Michael Kightly gives away a free kick for an unfair challenge on Craig Bellamy. Shot comes in from Craig Bellamy from the free kick, Wayne Hennessey makes a save.
Eggert Jonsson challenges Glen Johnson unfairly and gives away a free kick. Glen Johnson takes the free kick.
Dirk Kuyt produces a right-footed shot from just outside the area that goes harmlessly over the target.
The ball is delivered by Kevin Foley, save made by Jose Reina.
Outswinging corner taken right-footed by Michael Kightly from the right by-line, Headed effort from deep inside the penalty area by Steven Fletcher goes harmlessly over the crossbar.
Andy Carroll is caught offside. Free kick taken by Christophe Berra.
A cross is delivered by Michael Kightly.
The ball is crossed by Stephen Ward, clearance made by Martin Skrtel.
Michael Kightly delivers the ball from the free kick right-footed from right wing.
Booking Craig Bellamy goes into the book for unsporting behaviour.
Craig Bellamy gives away a free kick for an unfair challenge on Steven Fletcher.
Sanchez Jose Enrique takes a shot. Christophe Berra gets a block in.
Charlie Adam produces a left-footed shot from just outside the box that misses to the right of the goal.
Sanchez Jose Enrique takes a shot. Blocked by Christophe Berra.
Corner taken right-footed by Craig Bellamy, Daniel Agger takes a shot. Wayne Hennessey makes a save.
Craig Bellamy takes a shot. Save by Wayne Hennessey.
Craig Bellamy has an effort at goal from just inside the box that misses to the left of the goal.
Sanchez Jose Enrique takes a shot. Save by Wayne Hennessey.
The ball is crossed by Jordan Henderson.
Centre by Jordan Henderson, blocked by Stephen Ward.
Centre by Sanchez Jose Enrique.
Dirk Kuyt sends in a cross, Wayne Hennessey makes a save.
Sanchez Jose Enrique sends in a cross.
David Edwards concedes a free kick for a foul on Jay Spearing. Daniel Agger takes the direct free kick.
The ball is delivered by Michael Kightly, David Edwards has a headed effort at goal from close in which goes wide left of the goal.
Booking The referee books Charlie Adam for unsporting behaviour.
Free kick awarded for a foul by Charlie Adam on Matthew Jarvis.
Jordan Henderson sends in a cross, Roger Johnson manages to make a clearance.
David Edwards takes a shot. Jose Reina makes a save.
Glen Johnson crosses the ball.
The ball is sent over by Matthew Jarvis, Daniel Agger makes a clearance.
The ball is delivered by Matthew Jarvis.
The ball is delivered by Jordan Henderson, Christophe Berra manages to make a clearance.
Charlie Adam delivers the ball, clearance by Christophe Berra.
Andy Carroll fouled by Christophe Berra, the ref awards a free kick. Free kick taken by Jay Spearing.
Dirk Kuyt takes a shot. Save by Wayne Hennessey.
The ref blows the whistle to start the match.
Live text and data provided by The Press Association
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.