The unique role will see Jackson, who won the FA Cup with the Toffees in 1995, look after the club's sales, loans and releases and make them 'as positive an experience as possible'.
Technical director Scott Sellars said: "We spend a lot of time and money on developing players, but this last bit is often an afterthought.
"We owe it to the player – and to ourselves – to move them on in a focused and specific way, when the time is right.
"It’s about marketing players, whether they’re loans or whether their time with us has come to an end and we need to sell.
"From his own experiences as a player at the highest level, as well as the knowledge he has gathered during his various recruitment, operations and commercial roles since, we believe Matt is the right person to lead this new and exciting area of the club.
"This position is unique in football but demonstrates the progressive nature of Wolves and how we will not be afraid to try something different if it will benefit both our players and the club."
Jackson previously spent seven years as head of football operations at Wigan and ran a company mentoring young and professional players.
“Ultimately, we want to make every exit from the football club as positive an experience for the player and the club as possible," said Jackson.
“The club has a responsibility to the welfare of its players and their families, and we want to do the very best by them as we can.
"But we also have a commercial responsibility to the football club, and my role will be blending the two, hopefully seamlessly, for everybody.”
He added: “A huge part of what attracted me to the role was that it was entirely new and a chance to shape a role and a department going forwards that can support so many other elements of the football club.
“To be able to work for a Premier League club and one that is very well run and progressive is huge for my point of view.
“This is also an area I have a lot of experience in from the roles I’ve been in previously, areas that have become interesting to me over recent years and areas we’ve identified that clubs haven’t necessarily made a priority previously, which fit perfectly with the different skillsets I’ve got.”