Raul Jimenez suffered a fractured skull in a collision with Arsenal defender David Luiz during Wolves' 2-1 win at the Emirates on Sunday, the Mexico international's club confirmed in a statement on Monday.
Jimenez, 29, underwent lengthy treatment on the pitch following the clash of heads with Luiz while defending an Arsenal corner in the fifth minute of the game.
Although Luiz was able to continue until half-time after having a bandage applied to a head wound, Jimenez was wheeled off the pitch on a stretcher while receiving oxygen after 10 minutes of on field treatment.
Jimenez was taken to hospital and Wolves have confirmed that the forward underwent surgery on Sunday.
"Raul is comfortable following an operation last night, which he underwent in a London hospital," a Wolves statement said.
"He has since seen his partner Daniela and is now resting. He will remain under observation for a few days while he begins his recovery.
"The club would like to thank the medical staff at Arsenal, the NHS paramedics, hospital staff and surgeons who, through their skill and early response, were of such help.
"The club ask that Raul and his family are now afforded a period of space and privacy, before any further updates are provided in due course."
Jimenez tweeted a thank you to his fans late on Monday.
Sources have told ESPN that it is too early to ascertain the likely length of Jimenez's absence and that the player needs to recover fully from surgery before a full assessment is made.
Luiz posted an Instagram message stating that it was a "sad day" for Arsenal with the loss and asked people to pray for Jimenez.
"Also here to thank you for all messages and ask for everybody to pray for Raul Jimenez!" it read.
"Stay strong Raul" (#fuerzaRaul) has been trending in Jimenez's home country since the incident and there has been an outpouring of messages of support for a player who has become a figurehead of the men's national team since Gerardo "Tata" Martino took over in January 2019.
"We're sure you'll overcome this! All Mexico is with you!" read the message from the Mexican national team on social media.
"Brother Raul, get well soon, we know you are a machine," wrote current Monterrey player Miguel Layun. "We'll be checking up on you from here."
Jimenez's sister Miranda also asked for people to send "prayers" and "good vibes."