The gunners took 1-0 lead into the break after a goal right at the end of the half by Saka, his first Premier League goal for Arsenal and it was a great finish.
Tierney tried to cross to Saka, but it was partially blocked and the Arsenal man had to adjust his feet quickly, but then volleys it into the right-hand corner of the net, well out of the grasp of Patricio.
The home side looked dangerous on the counter and Traore went close inside the first minute of the game. However, the Gunners pressed forward and Saka produced a terrific volley inside the box, to power the ball into the back of the net just before the break.
When it looked like Wolves would cause Arsenal a few problems in the second period, dominating possession and Arsenal struggling at the back, Willock drives forward down the right side of the pitch and whizzes a ball across to see Lacazette cooly finish to give the Gunners 2-0 lead and secure the win.
This win for Arsenal keeps them in contention for a place in Europe next season, as they are now seventh, six points behind Manchester United in fourth spot.
Next up for the Gunners are Leicester City on Tuesday. Meanwhile Wolves will travel to Sheffield, to face the Blades.