Officers from West Midlands Police discovered the cannabis farm in Dunstall Road, in Whitmore Reans, on Tuesday evening after being tipped off by members of the public.
Around 150 plants were found at the property.
No arrests have been made, a spokesman for the force confirmed.
A West Midlands Police spokesman said: "We received a report of a cannabis factory at a property on Dunstall Road, Wolverhampton, at around 8.30pm on June 1.
"On arrival, officers discovered approximately 150 plants across five rooms and growing equipment. No arrests were made."
Sharing the find on Twitter, St Peter's Police said: "Officers from the team have acted on community intelligence and discovered a cannabis farm with approximately 150 plants at an address in Whitmore Reans this evening [Monday]."
Anyone with information is urged to call West Midlands Police on 101, quoting crime number 20/105121/21.