The Portugal international’s contract at Molineux will expire in 18 months.
Despite repelling interest in Neves from other clubs, Wolves could be under pressure to sell their captain soon.
The Gabon international has a wealth of Premier League experience with each of Southampton and Fulham, scoring three goals and providing three assists in 74 appearances.
More recently, the 29-year-old has made 58 outings for Nice, 20 of which have come during the current season, but the midfielder has now made the move to Molineux on a two-and-a-half-year deal.
Arsenal and Manchester United were both interested in signing the 25-year-old over the summer, but a move did not materialise due to Wolves’ hefty asking price.
Despite Neves’s current situation – he is due to become a free agent in 2023 – the west Midlands outfit were reportedly demanding as much as £70m to sanction a sale.
The 34-year-old has spent his entire career with the Blaugrana, but his future at the club now appears to be in doubt.
The Spaniard’s contract is due to expire next summer and has recently been linked with a move to MLS outfit Inter Miami.