The Republic of Ireland U-21 forward is enthusiastic about the move and looking forward to making an impression at the Championship club.
"I am absolutely buzzing and I can't wait to get stuck into training," Keogh told Wolves' official website.
"Mick (McCarthy) really didn't need to sell the club to me at all. His presence here meant a lot. He is a great man and his time with the Irish team made a big impression on me.
"There's a few of the boys here that I know as well, like Darren Potter, Stephen Ward and Kevin O'Connor.
"We all know each other through the Irish setup. Kev actually played at the same club as me when we were young schoolboys back in Dublin.
"I am looking forward to getting to know all the other lads and getting down to work."