Police responded to reports of a shopkeeper being threatened with a screwdriver on 8.30pm on Thursday.
The officers arrived at Costcutter, in Penn Road, but were alerted to men attempting to steal alcohol from the Strictly Liquor store across the road.
One police officer was punched in the face while a second was wrestled to the floor by two suspects.
Dale Byrne, of Falklands Crescent, Wolverhampton, was charged with two counts of theft from a shop, two counts of burglary and two counts of assault of a police officer.
The 42-year-old is due to appear at Walsall Magistrates Court today.
A 53-year-old man has been bailed under investigation until June 27.