A deal for the Jorge Mendes client – who has played four times for the senior Ecuador side – is expected to be completed in a matter of days.
Campana has been playing for Barcelona SC in his homeland and there will not be any problems with him getting a work permit, as he holds a Spanish passport.
However, he is set to be busy competing for his nation in the pre-Olympic Championship over the next few weeks, so will not immediately be available to Wolves.
The 6ft 2in centre forward is believed to be travelling to England imminently to complete a move to Molineux.
It will be Wolves' first signing of the window, but they want to get more business done too.