Wolves activated the release clause in Traore’s contract, thought to be £18 million.
The 22-year-old former Barcelona playmaker departs having scored 5 goals in 71 appearances for Boro and featured 40 times last season.
Tony Pulis described him as his “best buddy so to lose him is really difficult.”
He went on to say that “when I came to the football club he looked a little bit sullen, he didn’t have any confidence and in the end he played with a smile on his face and he certainly excited a lot of people at this football club.”
“I hope the supporters understand both players in respect of their decisions to play in the Premier League.”