The 29-year-old has joined from Bristol City on a two-and-a-half-year deal, with a two-year additional option in Wolves' favour.
And Hobbs believes Bentley's leadership qualities which saw the shot-stopper become club captain at his former club will help his new employers in their fight for Premier League survival.
And the move has prompted Wolves number two Matija Sarkic to be allowed to go out on loan to Stoke to continue his development.
“Dan is a vastly experienced goalkeeper from the Championship and was Bristol City’s captain, so is another big personality, a leader coming into the group," said Hobbs.
"He’s at a good age of 29 – a goalkeeper’s prime for the next few years – so it made sense from all angles, especially for a nominal fee.
“This move also enables Matija to hopefully play week in, week out, which at his age is important. He has high potential, but hasn’t played a lot of games, with his two previous loans being cut short due to injury.”
Hobbs revealed he sees much of former goalkeeper John Ruddy in their new signing – something that will be beneficial for the squad under new boss Julen Lopetegui.
“If you look at the role John Ruddy played at this football club, I think the fact Dan is a similar sort of personality will be really important for the club.
“The captaincy at Bristol City is important because they play with a lot of young players, so the leader has to be strong and brave. You can never have enough leaders in the squad. There are plenty of positives to this from a whole football perspective, so it’s one we’re happy to get over the line.”
Bentley will be given the chance to push current custodian Jose Sa to be Wolves' number one.
"We’ve got ten days to build up to the next game," said Hobbs.
"The players will have a couple of days off over the weekend which is important because they’ve not had many days off since returning, especially the World Cup boys.
"So, it gives him a few days to settle in, a few days off, then we’re back at it, building up to Liverpool at home.”