With a third of the season played, Mikel Arteta's men have amassed 30 points from 13 matches and rose above Manchester City and Liverpool with a 1-0 victory over London rivals Brentford last weekend.
The Gunners translated their domestic success into a record-breaking Champions League demolition of Lens on Wednesday night, pummelling Les Sang et Or 6-0 to qualify for the last 16 as Group B winners, while Wolves head south reeling from an unjust 3-2 loss to Fulham on Monday evening.
Here, Sports Mole takes an in-depth look at the head-to-head record and previous meetings between the two sides.
Head-to-head record
Previous meetings: 122
Arsenal wins: 62
Draws: 28
Wolves wins: 32
Few will be shocked to learn that Arsenal have by and large dominated this fixture in recent times, and the Gunners will endeavour to record a fifth consecutive Premier League win over their West Midlands counterparts on Saturday.
The two clubs met on a sunny Emirates afternoon to close out the 2022-23 season, where Granit Xhaka bagged an emotional brace on his farewell appearance to help the Gunners triumph 5-0, prior to which Arsenal's trip to Molineux just before the World Cup ended in a comprehensive 2-0 beating.
Thanks to their five-goal mauling at the hands of Arteta's men in May, Wolves remain without a single Premier League clean sheet against Arsenal from 18 previous matches - the only team to endure a worse defensive streak versus a single opponent in the competition is West Bromwich Albion, who have gone 26 games without keeping Arsenal at bay.
In addition, Arsenal have now found the back of the net in their last 31 meetings with Wolves, whose most recent shutout in this fixture came back in 1979, and the Gunners could match a club record of scoring in 32 games against a specific team, having done so against - coincidentally - West Brom.
While the Gunners' 2022-23 wins over Wolves were relatively straightforward, Arteta's men eked out a pair of one-goal triumphs in 2021-22, where a last-gasp Jose Sa own goal propelled Arsenal to a 2-1 Emirates win exactly two weeks after a 1-0 Molineux triumph.
Arsenal's euphoric celebrations on Wolves' territory memorably sparked plenty of debate and condemnation, but the Gunners could be forgiven for letting loose after surviving the final 20 minutes with 10 men, as Gabriel Martinelli received two yellow cards within a matter of seconds.
However, the Gunners would lament another controversial Molineux red in their last loss to Wolves, as David Luiz took the walk of shame for inadvertently clipping Willian Jose's heel with his knee in a 2-1 loss, which was also the scoreline at the Emirates in November 2020 as Wolves departed with three points in the bag.
Each of the two teams' last 16 meetings have come in the Premier League, and not since an FA Cup fourth-round tie in January 2005 have they met outside the top flight, where Patrick Vieira and Freddie Ljungberg's goals helped Arsenal to a routine 2-0 win before they went on to beat Manchester United on penalties in the final.
Last 20 meetings
May 28, 2023: Arsenal 5-0 Wolves (Premier League)
Nov 12, 2022: Wolves 0-2 Arsenal (Premier League)
Feb 24, 2022: Arsenal 2-1 Wolves (Premier League)
Feb 10, 2022: Wolves 0-1 Arsenal (Premier League)
Feb 02, 2021: Wolves 2-1 Arsenal (Premier League)
Nov 29, 2020: Arsenal 1-2 Wolves (Premier League)
Jul 04, 2020: Wolves 0-2 Arsenal (Premier League)
Nov 02, 2019: Arsenal 1-1 Wolves (Premier League)
Apr 24, 2019: Wolves 3-1 Arsenal (Premier League)
Nov 11, 2018: Arsenal 1-1 Wolves (Premier League)
Apr 11, 2012: Wolves 0-3 Arsenal (Premier League)
Dec 27, 2011: Arsenal 1-1 Wolves (Premier League)
Feb 12, 2011: Arsenal 2-0 Wolves (Premier League)
Nov 10, 2010: Wolves 0-2 Arsenal (Premier League)
Apr 03, 2010: Arsenal 1-0 Wolves (Premier League)
Nov 07, 2009: Wolves 1-4 Arsenal (Premier League)
Jan 29, 2005: Arsenal 2-0 Wolves (FA Cup)
Feb 07, 2004: Wolves 1-3 Arsenal (Premier League)
Dec 26, 2003: Arsenal 3-0 Wolves (Premier League)
Dec 02, 2003: Arsenal 5-1 Wolves (EFL Cup)
Last 10 Premier League meetings
May 28, 2023: Arsenal 5-0 Wolves (Premier League)
Nov 12, 2022: Wolves 0-2 Arsenal (Premier League)
Feb 24, 2022: Arsenal 2-1 Wolves (Premier League)
Feb 10, 2022: Wolves 0-1 Arsenal (Premier League)
Feb 02, 2021: Wolves 2-1 Arsenal (Premier League)
Nov 29, 2020: Arsenal 1-2 Wolves (Premier League)
Jul 04, 2020: Wolves 0-2 Arsenal (Premier League)
Nov 02, 2019: Arsenal 1-1 Wolves (Premier League)
Apr 24, 2019: Wolves 3-1 Arsenal (Premier League)
Nov 11, 2018: Arsenal 1-1 Wolves (Premier League)
Read more on Arsenal vs Wolves
Arsenal injury, suspension list vs. Wolves