The newly-promoted team were bright and lively until the 28th minute when they were undone by their own hand.
Ronald Zubar deflected the ball for an own goal and Jody Craddock followed suit seven minutes later.
Goalkeeper Wayne Hennessey looked totally bewildered and was beaten again in first half stoppage-time by Cesc Fabregas - his ninth of the season.
Andrey Arshavin added a fourth in the 64th minute only or Craddock to score at the right end in the 89th minute.
Wolves, however, came close to making the breakthrough in the 10th minute when Nenad Milijas delivered the corner.
Sylvan Ebanks-Blake peeled away from his marker but failed to test goalkeeper Manuel Almunia, his close range header going wide of the post.
It was a good chance for the striker, who was back in the side with Chris Iwelumo absent.
Wenger's side again found themselves on the back foot in the 18th minute and Milijas picked out Christophe Berra with a free-kick - but he got his bearings wrong and the ball was scrambled away.
Arsenal went ahead in the 28th minute and there was a stroke of luck about their effort.
Fabregas swung in a corner from the left and the ball took a deflection off Zubar, under pressure from Eduardo, for an own goal.
The home side tried to regroup but were undone again seven minutes later and by another own goal.
Eduardo was allowed plenty of space and raced forward only to see his chip deflected off Craddock.
The momentum had swung Arsenal's way and they were now firmly in the driving seat with the advantage of a two-goal cushion.
They extended their lead in stoppage-time when Fabregas scored in front of the posts after a simple ball from Robin van Persie.
Arsenal went on the attack at the start of the second half and Arshavin tried to pick out van Persie in the 48th minute, only for Hennessey to make the interception.
Five minutes later Thomas Vermaelen hoisted the ball forward towards Eduardo but he failed to get a decent touch and the opportunity was lost.
Arsenal had taken the sting out of the game after their three-goal spell in the first half.
Wolves were finding it hard to string their passes together and there was an air of resignation among the home fans.
Fabregas then tried to release van Persie but Craddock was alert to the danger in the 63rd minute and made the clearance.
Arshavin came close to extending Arsenal's lead in the 63rd minute when he cut inside, only for Hennessy to turn away his effort.
The Russian got his reward in the 66th minute, latching onto Hennessey's clearance from a corner by Fabregas, thumping the ball beyond the goalkeeper.
It was becoming a rout as Arsenal were beginning to find gaps as Wolves tired.
Fabregas should have added a fifth goal in the 76th minute but sent his effort over the top from close range after van Persie had squared the ball into his path.
Substitute Tomas Rosicky was also wasteful in front of the posts before Wolves got a consolation goal on the stroke of full-time.
Craddock scored at the right end this time when he powered home a header from substitute Matt Jarvis' corner.
Prem 2009/10 Win Outright: Arsenal 7/2