The 46-year-old arrives from Gil Vicente following an impressive campaign in Portugal’s Primeira Liga and brings a strong reputation as an attack-minded coach.
Although this is his first experience in English football, the former Portugal international is confident his aggressive style will suit Wolves and entertain fans at Molineux.
“It feels really good for me. I’m proud to be here at this big, historic club in England,” Peixoto told the club website.
“It’s a big opportunity and I’m prepared to do everything to put Wolves where it belongs in the Premier League.
“We have great players, but I think the team can improve a lot with me and I can improve as a technical head coach.
“ I want to put my identity onto the team, build a strong identity at the club and also help the team to grow. This is a big opportunity to show my identity and my way of playing.
“This is an amazing club, and it is important for me to make Wolves play in a way which reflects the fans. It’s a hard-working city with a lot of energy and a lot of passion and I want the team to play like that, to play with passion, to play with good energy, and make the fans happy with our idea of the game.”
On his style of play, he said: “Firstly, I’m a very demanding coach, but I believe in giving my players the maximum freedom and maximum responsibility.
“I know very well what I want for the team. I want a team that is organised with the ball and without the ball, I want a team with intensity, being aggressive, wining duels and I want to increase the quality of the players, the quality of the game, play an offensive game, try to press high and try to be the main character of the game.”