David Jones' solitary strike lifted Wolves out of the relegation zone as his first Barclays Premier League goal of the season sealed a 1-0 win and put a dent in Tottenham's hopes of taking back fourth place at Molineux.
The midfielder started the move which resulted in him side-footing home a cross from Matt Jarvis in the 27th minute and Wolves could also have had a penalty when Michael Dawson clipped Jarvis in the first half.
Tottenham's best chance fell to Niko Kranjcar before they had gone behind but he shot too close to goalkeeper Marcus Hahnemann.
Harry Redknapp's side have now won just once in the last six matches and have scored three league goals in 2010 as a closer examination of their Champions League credentials has found them wanting - at least for now.
The result was huge for Wolves, with their first victory in seven league matches - and their second over Spurs this season - more than well deserved.
Jermain Defoe's pace looked like causing Wolves problems early on and on more than one occasion defenders had to resort to niggling fouls to halt his progress.
Spurs captain Dawson had the first half-chance in the 13th minute from Gareth Bale's corner but failed to connect properly with his header from seven yards.
Kevin Doyle went down claiming a penalty five minutes later but the challenge from Sebastien Bassong was more shoulder-to-shoulder and initial contact was outside the area.
Spurs went straight down the other end and Kranjcar should have scored after Defoe had back-heeled Eidur Gudjohnsen's pass into his path but he shot too close to Hahnemann and the goalkeeper deflected the ball for a corner with his legs.
Wolves had their best chance moments later when Doyle broke through on the right but his touch gave him too narrow an angle and as Dawson got across to challenge he fired a shot across the six-yard area which Bassong turned behind.
However, the hosts took the lead with the simplest of goals which came out of nowhere in the 27th minute.
Jones played the ball out to Jarvis on the left and continued his run to side-foot home the cross first time from 15 yards.
Wolves could have had a penalty two minutes later when Dawson clipped Jarvis as he ran into the area but referee Mark Clattenburg waved play on.
Jarvis almost added the second when he cut in on to his right foot and drilled in a shot which goalkeeper Heurelho Gomes turned around the near post.
Tottenham had lost the midfield battle in the first half and Redknapp responded by sending on Wilson Palacios for Jermaine Jenas immediately after the interval.
The visitors looked brighter and Kranjcar had a shot deflected just past the near post but Wolves still looked capable of getting a second and Doyle's lob from Stephen Ward's pass over the top beat Gomes but dropped wide of the target.
On the hour Wolves boss Mick McCarthy replaced left-back Ward with George Elokobi, while Peter Crouch came on for Gudjohnsen.
Elokobi was the first man to be booked, eight minutes after coming on when he body-checked David Bentley.
In a final throw of the dice Redknapp introduced Luka Modric for Kranjcar in an attempt to inject more creativity, while McCarthy strengthened central midfield with Michael Mancienne taking over from Guedioura.
Palacios was booked for going through the back of Jarvis as Tottenham's frustration began to grow.
The visitors stepped up the pressure in the final 10 minutes but Wolves soaked it all up to register back-to-back home clean sheets in the league for the first time in the campaign.
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