The Wanderers had lost their last seven meetings with Huddersfield – including a 3-1 defeat at Molineux in October – but never looked back after Dicko’s 12th-minute opener, his eighth goal of the season.
It was a frustrating night for a Huddersfield outfit that created the better chances, with Conor Coady’s own goal at the start of the second half typifying their luck.
Former Town loanee Benik Afobe and James Vaughan exchanged goals before Dicko rounded off a comprehensive Wolves win late on.
Ishmael Miller made his first start for Huddersfield in place of the suspended Nahki Wells, while Tommy Smith was back in the side just 10 days on from being airlifted to hospital.
Scott Golbourne was only fit enough to take his place on the Wolves bench after a foot injury and Kenny Jackett’s side continued without goalkeeper Carl Ikeme.
The visitors took the lead against the run of play after Huddersfield had gone close through Vaughan’s low 25-yard strike and an effort by Miller which stung the palms of Tomasz Kuszczak.
Rajiv van La Parra’s well-weighted through ball rolled perfectly into the path of Dicko just inside the box and the striker kept his composure to beat Alex Smithies with a neat, low finish.
Wolves continued to look dangerous on the break but Huddersfield were next to threaten, Harry Bunn shooting straight at Kuszczak after good work by Miller.
The natives were getting restless as the number of decisions going against Town mounted but they were encouraged by a stirring end to the half by their side.
Kuszczak was forced to scramble across his goal to push a shot which deflected off Coady behind before the former Manchester United goalkeeper got two strong hands to a Sean Scannell drive.
The break came at the wrong time for Huddersfield, who found themselves two down within 60 seconds of the restart as Coady headed Bakary Sako’s corner into his own net.
The hosts responded positively but Kuszczak was in no mood to offer the Terriers a route back into the game, tipping Jacob Butterfield’s long-range strike over from the kick-off.
Huddersfield continued to test the Wolves stopper but found themselves further behind in the 61st minute when Afobe finished from close range after being fed by La Parra, whose shot had been pushed back into his path by Smithies.
Town refused to go away and gave themselves a lifeline two minutes later as Vaughan confidently swept home Scannell’s cross, leaving Kuszczak with no chance.
Afobe spurned a glorious opportunity to restore Wolves’ three-goal cushion after finding himself in on goal but Dicko made no such mistake as he rounded Smithies to slot home in injury time.