Kenny Jackett is searching for a player who can give Wolves 'another 10 to 15 per cent in terms of quality'.
Neil Adams says Norwich remain in the market for further additions after signing Cameron Jerome and Carlos Cuellar.
Snodgrass has one year left on his current deal, and has told the club he will not be signing an extension as he wants to return to the Premier League.
A number of clubs have been chasing Snodgrass ever since their relegation from the top-flight with the likes of Sunderland, West Brom and Queens Park Rangers all credited with an interest in his services.
However, City have stolen a march on their rivals by agreeing a fee and testing him medically in an effort to lure him to the KC Stadium.
Snodgrass, who had already been given the green light to hold talks with Hull, could join the club in the week Jake Livermore arrived on a permanent club-record transfer, which could eventually be worth around £8m, from Tottenham.