Wolves could face a Europa League trip to Torino in the final qualifying round before this season’s group stage.
The Premier League side are in Europe for the first time in 39 years and face Armenian side Pyunik on Thursday.
If they come through that two-legged tie they will play Italian side Torino or Shakhtyor Soligors of Belarus in the play-off round on 22 and 29 August.
Celtic – still in the Champions League – Aberdeen, Rangers, Linfield and The New Saints were also in the draw.
Celtic will face Czech side Slavia Prague in the Champions League play-off round should the Scottish champions defeat Cluj of Romania.
But if they lose that tie, they will drop into the Europa League and face Sheriff Tiraspol of Moldova or Swedish club AIK.
Rangers have a trip to either Legia Warsaw of Poland or Atromitos of Greece to look forward to should they knock out Danish club FC Midtylland, while Aberdeen could be heading to Belgium or Cyprus.
Irish Premiership side Linfield, who defeated HB Torshavn in the last round, will face Apoel or Qarabag if they come through, while Dundalk of the Republic of Ireland could face Ajax.
Selected Europa League play-off round fixtures (to be played 22 & 29 August)
Cluj or Celtic v Sheriff Tiraspol or AIK
Legia Warsaw or Atromitos v FC Midtjylland or Rangers
Torino or Shakhtyor Soligors v FC Pyunik or Wolverhampton Wanderers
AEK Larnaca or Gent v HNK Rijeka or Aberdeen
Ludogorets or The New Saints v Maribor or Rosenborg
FK Sutjeska or Linfield v Apoel or Qarabag
Slovan Bratislava or Dundalk v PAOK or Ajax