Wolves have appointed striker Edwards as their new manager on a three-and-a-half-year contract following the sacking of Vitor Pereira.
Edwards left Championship champions Middlesbrough, who he joined as head coach in June, to take over at Molineux.
Wolves left Pereira on 2 November and, after the first way to talk to edwards was rejected by Boro, they were given a club that agreed to a club deal.
Edwards, who previously managed Luton in the Premier League, played 111 times for Wolves between 2004 and 2008.