Diogo Jota came back to haunt his former club as his first-half effort was enough to seal the three points.
Jota got the scoring underway on the stroke of half-time, his drilled left-footed strike squirmed in at the near post.
But it was far from impressive by Liverpool in a game marred by the collision between Conor Coady and Rui Patricio that resulted in lengthy treatment for the goalkeeper which saw him stretchered off.
Liverpool rise to sixth but now won't play a minute of Premier League football until the start of April.
Liverpool mediocre but Diogo Jota breaks the deadlock
There was an early moment of bother for Alisson, the Brazilian shot-stopper fumbled Adama Traore's cross before colliding with Nelson Semedo. Concrete shouts for a penalty, but Craig Pawson waved the appeals away.
Liverpool started off the slower with the hosts quickest out the blocks, Traore and Semedo combined once again, but Alisson was alert to the threat and saved well.
In the 12' minute, the visitors found an opening as Sadio Mane burst through on goal, he rounded Rui Patricio but his touch took it too far wide and a chance went begging.
As the match opened up, Mane headed wide from Trent Alexander-Arnold's clipped cross after patient build-up in the 38' minute.
After the obligatory Thiago yellow card, Ruben Neves' speculative but well-struck free-kick stung the palms of Alisson.
The Portugal midfielder had another chance on the stroke of half-time, he had acres of space on the edge of the box but flashed his shot wide.
A minute before the break, the old Wolves forward Diogo Jota found the back of the net. Like five days previous, the front three combined, Mohamed Salah, to Mane, to Jota, the 23-year-old's effort crept through at the near post.
13: Great interplay between Thiago and Wijnaldum, Mane's second touch took him away and then took the wrong option in shoot with four old gold shirts behind the ball.
1: Poor communication, Alisson shouted too late and Phillips was mid jump and nearly cost a goal or even a penalty.
Liverpool finding their way a lot more. Mane looking sharp, just the final pass lacking in the key moments,
5: Kabak caught ball-watching for Semedo's chance. Robertson had come across to cover but the Turk filtered in rather than switching the shape. Another huge let-off.
Enjoying freedom down the right hand side with Alexander-Arnold.
End to end but very scrappy on the Reds behalf.
Maybe not deserved but no better time to score the opening goal.
Ste's first half thoughts: Liverpool were slow out the blocks with Wolves having two chances within the first five minutes. Arguably could've had a penalty, but Alisson atoned to his error with the save from Semedo.
The Reds had spells of possession with Mane heading wide but Nuno Espirito Santo's side probably had the better of the chances. Diogo Jota striking on the brink of half-time, a mistake from Patricio but can't argue with the rub of the green falling in the Reds favour.
Liverpool hang on but Patricio collision overshadows the result
Former Liverpool defender Conor Coady broke free of his marker but could only head over.
As the game entered the final quarter of an hour, the Reds were looking shaky.
Traore found himself in space as the backline dropped off, but his stinging effort was straight at Alisson.
Mane cut inside on his favoured right foot, but his effort was easy for Patricio.
Wolves returned the favour with a shot on goal moments later, Fabio Silva's header an easy catch for Alisson.
Liverpool enjoyed moments of dominance, Salah broke through and fired across the goal but was denied by the strong right hand of the Wolves 'keeper.
Jota tested the host's number one but again straight at the shot-stopper.
Salah had the ball in the back of the net but was marginally offside, in turns forces Patricio off following lengthy treatment.
With the game clambering towards a conclusion following the delay, the Egyptian maneuvred space onto his left-foot but failed to test John Ruddy.
A big chance for Silva, his attempted header inadvertently bounces off his shoulder and loops into Alisson's hands.
It was backs against the wall for Liverpool, Traore fired across the face of goal before Alisson beat away the danger.
But in the end, the Reds held on.
Despite some bad passes, Liverpool were a lot more fluid and knocked it round well.
75: Wolves enjoyed a lot of space, picking up the play in pockets with enough time to turn.
The Reds were far from their best but Wolves were just as bad.
Very, very shaky.
Oxlade-Chamberlain looking bright since his introduction.
Horrible incident for Patricio, we send our best wishes and a speedy recovery.
LFC Transfer Room Verdict
Priyasha said: "An average outing as a whole but a moment of brilliance from the front three and the defence were absolutely solid tonight ensuring we go home with three points.
"The fullbacks had a great game and Ozan Kabak, along with Nat Phillips, did everything right.
"An otherwise good win was marred by the horrific injury to Rui Patricio, and we wish the Wolves keeper to get back to health as soon as possible."
Ritchie reflected: "It was pleasing enough to see clubs fighting for that Champion League spot dropping points this weekend, so naturally delighted to get three points on the board in what is always a tough game against Nuno’s side.
"A professional job and good three points to gain momentum for the final nine games of the domestic season.
"Jota showing how much he was missed with a deft finish and why he is crucial to Liverpool’s top four plight, Phillips was class.
"On to the next one after an extended test for the Red Men.
"Thoughts go out to Rui Patricio."
Another far from impressive display from Liverpool.
In the end, they got the job done with some decent performances across the pitch, namely Nat Phillips, Ozan Kabak and Trent Alexander-Arnold.
Another goal for Jota and three more points on the board. Fingers crossed Jurgen blocks the international break and the players can get a break ahead of Arsenal at the start of April.
However, the win leaves a somewhat bitter taste. Our thoughts go out to Rui Patricio who suffered a sickening injury after an accidental collision with Conor Coady.
Wolves v Liverpool: Match Facts:
Wolves: Rui Patricio, Boly, Coady, Saiss, Nelson Semedo, Neves, Joao Moutinho, Jonny, Pedro Neto, Traore, Willian Jose.
Liverpool: Alisson, Alexander-Arnold, Phillips, Kabak, Robertson, Thiago, Fabinho, Wijnaldum, Salah, Jota, Mane.
Goals: 45' Jota
Bookings: 37' Neves, 42' Thiago, 52' Saiss
Subs: 70' Silva (on for Willian Jose), 76' Dendoncker (on for Neves), 84' Gibbs-White (on for Semedo), 90+ Ruddy (on for Rui Patricio) ; 67' Milner & Keita (on for Thiago & Wijnaldum), 81' Jota (on for Oxlade-Chamberlain)