The Molineux outfit are the leading scorers in the Championship so far this term - with Sylvan Ebanks-Blake's 24 goals looking enough for him to retain his golden boot award, while Chris Iwelumo (14), Sam Vokes (5) and Andy Keogh (3) have also found the net.
McCarthy told the club's official website: "Goals haven't been a problem for us this season - our strikers have done very well and I have told them they haven't done anything wrong.
"But when there is a chance to bring in added competition in the form of a striker with a proven goalscoring pedigree, then you have to take that opportunity."
Harewood himself can't wait to get started with his new team-mates.
"I'm delighted to have the chance to come to Wolves," he said. "The club
have had a great season so far and are in a great position heading into the final six games. I'll be doing everything I can to try and help them over the finishing line."