The 25-year-old has reunited with Lage, who he played under during his time in the Benfica academy, and arrives as the latest in a string of Portuguese internationals already at the club.
And Guedes admits those friendly faces were crucial in him making the move to England.
“I had two or three phone calls with the manager, we already knew each other from my time at Benfica, so it was key to me coming to Wolves,” he said.
“Speaking to Bruno and some of my national team-mates made me want to come here, as they said it was a great league and that they wanted to achieve big things at Wolves, so speaking to them was definitely one of the biggest reasons.
“A lot of them spoke to me and told me to come here when we were together with the national team. They told me that it was a club that was growing a lot, with much more recognition than in the past and speaking to them was critical for me.
“I already have a great relationship with some. I already played two, three seasons together with Nelson (Semedo) at Benfica and then the national team, so we already have a really close relationship. And I’ve known Ruben (Neves), (Joao) Moutinho and (Jose) Sa for a while from the national team, which is great and will make for a much easier adjustment.”
Following the 2-1 loss to Leeds, in which Wolves had extremely limited options on the bench, Guedes will add much-needed depth in the forward areas.
He now has all week to train with his new team-mates before fighting for a place in the squad for the first home match of the season, against Fulham, on Saturday.
Guedes added: “I’m really proud to be here. To get into this team and to get to the Premier League is really good for me, I’m really happy and hope to get started as quickly as possible. I’m really excited, it’s a league that every player wants to play in and now I just want to settle in as quickly as I can so I can already help the team on Saturday if possible.
“I think it’s going to be a great fit – I’m a quick player, that tries do things with the maximum intensity and score as many goals and assists as possible. I’ve watched some matches, so I believe I’m going to fit in nicely and I’m going to work to be at a top level.
“I hope I can better those figures (from last season), but the most important thing is for the team to be well and be as high in the table as possible, that’s the most important thing. If we are good collectively, then that will make it easier to stand out individually.
“I want to get as many goals and assists as possible, help the team and try to have Wolves on the higher end of the table, fighting to win titles.”