Bruno Lage's men will take on Alaves on Wednesday evening, who finished bottom of La Liga last season and were relegated into the Segunda División.
The match could provide fans with a first glimpse of £20-million-man, Nathan Collins, who joined the Molineux side from Burnley after their relegation from the Premier League at the end of last season.
Wednesday's friendly is the first of two being played in Alicante, the other being a match against Turkish side Besiktas on Saturday.
From there Wolves travel to Portugal where they play Sporting CP and SC Farense on consecutive days.
The Wolves tour squad is:
Goalkeepers: Jose Sa, Matija Sarkic, Jackson Smith, Andreas Sondergaard.
Defenders: Rayan Ait-Nouri, Willy Boly, Hugo Bueno, Conor Coady, Nathan Collins, Jonny Castro Otto, Max Kilman, Dexter Lembikisa, Yerson Mosquera, Nelson Semedo, Toti Gomes.
Midfielders: Luke Cundle, Leander Dendoncker, Morgan Gibbs-White, Harvey Griffiths, Joe Hodge, Joao Moutinho, Ruben Neves, Connor Ronan.
Forwards: Chem Campbell, Theo Corbeanu, Hwang Hee-chan, Raul Jimenez, Pedro Neto, Daniel Podence, Adama Traore.
What time is Alaves vs Wolves?
Kick-off against the Spanish second division side is at 6pm.
The match is being played at the Camilo Cano Stadium, which is home to CF La Nucía in Alicante.
How to watch Alaves vs Wolves
Wolves fans can watch their side for the first time in pre-season on WolvesTV and the club's official Facebook page.
The match, along with the side's three other friendlies during their pre-season tour, will be available to watch for £4.99 per game, although supporters can save £4.97 by purchasing a pre-season bundle which feautres all four games for the price of three through WolvesTV.
Streams will feature multiple camera angles and live commentary for each game, with coverage beginning approximately 15 minutes before kick-off.
Subscribers will only be able to view the live stream through the platform they subscribed on – if supporters subscribe via WolvesTV they will have access to the WolvesTV stream but not Facebook feed and vice versa.
For those who can't watch the match, the Express & Star will be running a live blog from 4.30pm.