The Eagles came from 2-0 down to defeat Championship side Plymouth Argyle 4-2 on Tuesday, while the Wanderers thrashed League One outfit Blackpool 5-0.
Match preview
Trailing 2-0 midway through the second half on Tuesday, Crystal Palace appeared to be heading for an early EFL Cup exit at the hands of Plymouth Argyle, but Roy Hodgson's men flexed their Premier League muscles to book their place in the third round.
Following a goal from Odsonne Edouard, Jean-Philippe Mateta scored a 22-minute hat-trick to complete the comeback for his side, meaning that Crystal Palace have now lost just one of their four matches across all competitions this season.
The Eagles kicked off their campaign with a 1-0 victory over newly-promoted Sheffield United before suffering a 1-0 defeat to Arsenal, although Hodgson's side came close to getting something from their clash with the Gunners following Takehiro Tomiyasu's 67th-minute red card.
Last weekend, Palace came from behind to draw 1-1 with London rival Brentford thanks to Joachim Andersen's 76th-minute equaliser, but they left the Gtech Community Stadium frustrated after registering 15 shots while limiting the Bees to a solitary attempt on target.
Still, there is no denying that the Eagles are making good progress under Hodgson, who has lost only three of his 14 games since returning to the club back in March, picking up seven wins and four draws along the way.
To say that Wolverhampton Wanderers dominated Blackpool in midweek would be an understatement, as Gary O'Neil's men racked up 73% possession and 13 shots at Molineux, while the visitors failed to register a single attempt on target throughout the contest.
Having scored an 87th-minute winner in last weekend's 1-0 victory over Everton, Austrian striker Sasa Kalajdzic opened the scoring on Tuesday, with Fabio Silva doubling Wolves' advantage before the break.
After half time, the returning Matt Doherty bagged a quick-fire brace to all but end the tie, while 18-year-old forward Nathan Fraser came off the bench to score his first senior goal and complete the rout.
Wolves suffered a 1-0 defeat to Manchester United on the opening weekend of the Premier League season, despite registering a whopping 23 shots at Old Trafford, but they were completely outclassed by Brighton & Hove Albion in their second match, enduring a 4-1 thrashing at the hands of the Seagulls.
However, following clean-sheet victories over Everton and Blackpool, O'Neil will be confident that he is the right man to take the club forward after the untimely departure of former manager Julen Lopetegui, who departed just days before the start of the new campaign.
Crystal Palace Premier League form:
Crystal Palace form (all competitions):
Wolverhampton Wanderers Premier League form:
Wolverhampton Wanderers form (all competitions):
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Team News
Crystal Palace are still without key forward Michael Olise due to injury, although everyone involved with the club will be happy that he remains at Selhurst Park following interest from Chelsea earlier in the transfer window.
The Eagles will also be without new signing Matheus Franca this weekend as the Brazilian youngster continues to recover from a back issue, while midfielder Will Hughes is a doubt for Sunday's clash due to a knee problem.
Fresh from netting a hat-trick in midweek, Jean-Philippe Mateta could make his first Premier League start of the season, with one of Odsonne Edouard, Jeffrey Schlupp and Jordan Ayew likely to make way for the French striker.
As for Wolves, 20-year-old midfielder Joe Hodge remains sidelined with a thigh injury, while South Korean forward Hwang Hee-chan is a doubt for the trip to London after picking up a minor hamstring injury.
Matheus Nunes has swapped Molineux for Manchester City in a £53m deal, joining Ruben Neves, Joao Moutinho, Adama Traore, Raul Jimenez, Nathan Collins and Conor Coady on the Wanderers' lengthy list of summer departures.
Having scored in back-to-back games, Sasa Kalajdzic should lead the line for the visitors at Selhurst Park, with Matheus Cunha offering attacking support to the lone striker.
Crystal Palace possible starting lineup:
Johnstone; Ward, Andersen, Guehi, Mitchell; Doucoure, Lerma; Ayew, Eze, Edouard; Mateta
Wolverhampton Wanderers possible starting lineup:
Sa; Doherty, Dawson, Kilman, Ait-Nouri; Neto, Gomes, Lemina, Sarabia; Cunha; Kalajdzic
We say: Crystal Palace 1-1 Wolverhampton Wanderers
This fixture has a low-scoring history, with 10 of the previous 11 meetings between Crystal Palace and Wolves producing fewer than three goals.