The forward joins the Potters on an initial six-month loan, followed by an obligational permanent purchase in January.
Afobe made an initial loan return to Molineux in January and played his part in Wolves’ title-winning campaign, finishing with six goals in 16 appearances.
Wolves triggered the option in Afobe’s loan deal on 1 June to make his signing permanent, but a significant offer from Stoke City sees the DR Congo international secure a move to the bet365 Stadium less than month later.
Wolves sporting director Kevin Thelwell said: “We’d like to place on record our thanks to Benik for his unquestionable contribution to our promotion to the Premier League, and wish him the very best of luck at Stoke City.
“Whilst we decided to exercise the option in Benik’s loan deal from AFC Bournemouth at the end of the season, Stoke City’s interest in signing him was very strong the end result is positive for all parties.”
