Two goals from Thomas Ince handed Blackpool the three points at Molineux despite The Seasiders falling behind after just 15 minutes.
The 20-year-old got the equaliser on the stroke of half-time, which seemed to give everyone a lift going into the second period and Steve Thompson's side were worthy winners after a strong second-half performance.
It was a brilliant strike that won it, as the winger let fly from 25 yards out and Carl Ikeme could only palm the vicious strike into the corner.
Tommo handed Matt Phillips his first start since early November and it was the winger who had the first effort, but he dragged his shot wide from 25 yards out.
Thomas Ince also tried his luck moments later, cutting in from the right but he sent his shot high and wide of Karl Ikeme's goal.
Despite Pool's good start it was Wolves who got themselves in front after 16 minutes when Sylvan Ebanks-Blake headed home Ronald Zubar's right-wing cross.
GOAL WOLVES 1-0 Blackpool
The goal gave Dean Saunders' side a bit more confidence after a poor start and they almost doubled their lead but a few players flung themselves towards the feet of Kevin Doyle to block his shot.
Five minutes later, Ince fired at goal but his shot whistled narrowly wide, via a deflection with Ikeme left wrong-footed.
On the half-hour mark Blackpool's players and fans all had their penalty shouts waved away after Alex Baptiste went down under Karl Henry's challenge.
Pool were rewarded for their first-half efforts though right on the stroke of half-time as Ince pounced on a mix up between Zubar Roger Johnson and flicked the ball into the far corner with the outside of his left boot.
GOAL: Wolves 1-1 BLACKPOOL
It was good persistence by Ince for the goal as he notched his 14th of the season.
HALF-TIME: WOLVES 1-1 BLACKPOOL
Both sides started the half in a positive manner with Wolves having a great chance to regain the lead but Ebanks-Blake's shot from ten yards was saved well by Gilks.
The game became stretched and The Seasiders looked dangerous on the attack but Ikeme was not asked to make any meaningful saves.
Matt Derbyshire came on for Phillips with 30 minutes to go and moment after he was brought on he got in behind the Wolves defence before it seemed he was dragged down, but the referee waved away the protests of the Blackpool players.
In the 77th minute Ince grabbed the winner with a stunning hit to set the travelling fans into raptures.
GOAL: Wolves 1-2 BLACKPOOL
The Seasiders saw out the game with great professionalism and in stoppage time Roger Johnson was sent off for an elbow on Martinez.
It was an all-round professional performance by The Tangerines and they were worthy of the three points.
FULL-TIME: WOLVES 1-2 BLACKPOOL