The 23-year-old replaces Valencia forward Rodrigo Moreno, who picked up a back injury against Granada on Saturday and has been ruled out of Spain’s upcoming EURO 2020 qualifiers against Romania and Malta.
Spain have already booked their place in next year’s continental tournament after Rodrigo scored a stoppage time equalizer against Sweden last month.
Traore was born in Spain to Malian parents and came through Barcelona’s famed La Masia academy.
He has represented Spain at youth level but this will be his first involvement with the senior side.
A statement from the Royal Spanish Football Federation (RFEF) confirming Traore’s call up read: "Adama Traore, the Wolves player, will be the replacement for Rodrigo Moreno of Valencia in the national team's squad for the matches against Malta and Romania."
Earlier this week reports emerged that Traore had chosen to play for the Malian national team but he has refused to put a finger on the accuracy of those reports.
"The truth is I've spoken with Mali, but I didn't sign anything," Traore told the Express and Star.
"I've been in contact with them and they've shown interest. There has been a bit of confusion. I haven't decided yet."
Traore has made 10 Premier League appearances for Wolves this season and scored both goals when Nuno Esperito Santo’s men beat Manchester City 2-0 at the Etihad Stadium last month.