Kenny Jackett's champions have amassed 100 points this season and boast the division's best attack and meanest defence ahead of the final round of matches.
Goalkeeper Carl Ikeme, defensive duo Sam Ricketts and Danny Batth, plus midfielder Kevin McDonald and winger Bakary Sako have all been rewarded for their performances with places in the PFA's side announced on Sunday evening.
They are joined in the line-up by Jake Bidwell and Adam Forshaw from Brentford, who have also secured promotion to the Championship.
Completing the side are Rotherham United's Ben Pringle, Britt Assombalong of Peterborough United, Sheffield United defender Harry Maguire and Coventry City's prolific forward Callum Wilson.
League One PFA Team of the Year: Ikeme (Wolves); Ricketts (Wolves), Batth (Wolves), Maguire (Sheffield United), Bidwell (Brentford); Sako (Wolves), Forshaw (Brentford), McDonald (Wolves), Pringle (Rotherham); Assombalonga (Peterborough), Wilson (Coventry).