The north London giants have found momentum since Boxing Day with 17 points gained from a possible 21 and they are currently 10th on the table.
The top-four remains a distant target with an eight-point deficit, but manager Mikel Arteta will be hoping that his team can carry on the good form with a victory at the Molineux Stadium.
Ahead of the game, the club have received a timely injury boost with Dani Ceballos and Pablo Mari back in full training after overcoming their respective calf issues.
The Gabon international had recently flown home to take care of his ill mother and on his return, he needed to go through the quarantine protocols
Loan signing Mat Ryan (hip) and Kieran Tierney (leg) are the only absentees for the game through injuries and the Gunners fans will be disappointed with the latter’s unavailability.
The left-back had been in fine form over the past month with valuable goals and assists while also creating plenty of chances with his overlapping runs
In his absence, Cedric Soares has done a credible job in a makeshift role. His superb switch of play against Southampton which led to the third goal was appreciated by many supporters
The Portugal international is expected to keep his spot against Wolves, now that Ainsley Maitland-Niles has moved on to West Bromwich Albion on loan for the rest of the campaign.