Jimenez has signed a two-year contract at Craven Cottage as Fulham's leading striker Aleksandar Mitrovic's future looks uncertain.
Saudi Arabian side Al Hilal have tabled a bid for Mitrovic, who is ready to change clubs.
Once one of the most feared strikers in the Premier League, Jimenez lost his scoring touch after suffering a sickening clash of heads with David Luiz in a Premier League game against Arsenal in November 2021 that put him out of the game for nine months.
Before his injury, Jimenez had scored 34 goals in 86 Premier League games but only netted six in 49 afterwards.
In all, the 32-year-old Mexican scored 57 goals in 166 games for Wolves in his five years at the club, having completed a £30m move from Benfica in the summer of 2019 following a successful one season loan stint at Molineux.
Upon signing, Jimenez told the club website: “It's really important for me to arrive here. I will try to do my best for the team, one of the most iconic teams in the Premier League.
“I'm happy to be here and to play in this stadium, it's a really good stadium, I like it here. I'm going to give my best to keep scoring goals in the Premier League.”
Sporting director Tony Khan added: “Raul will be familiar to Fulham supporters as he's had great experience playing in the Premier League, and in international football with Mexico.
“It's important for us to follow up on last season's success, and we believe that the addition of Raul can help us strengthen the squad as we aim for another successful season in the Premier League.”
