Jota has signed a “long-term” contract with the Premier League champions, which is believed to be a five-year agreement.
The 23-year-old joins Liverpool just 24 hours after they signed Bayern Munich midfielder Thiago Alcantara for an initial £20 million.
Liverpool also signed Greece left-back Kostas Tsimikas from Olympiakos earlier in the transfer window.
Jota will provide attacking depth for Liverpool boss Jurgen Klopp, competing with Mohamed Salah, Sadio Mane and Roberto Firmino for playing time in the wide positions in the team’s three-man forward line.
“It’s just a really exciting moment for me and my family,” Jota told Liverpool’s website.
“All of my path since I was a kid and now, to join a club like Liverpool — the world champions — is just unbelievable. I just want to get started.
“They are world-class players. Every match, they try to win. They score a lot of goals and they work together.
“I want to be one more piece to join that (front) three.”
Jota claimed the move to Anfield was too good an opportunity to turn down.
“When you look at the Premier League, you always see Liverpool as one of the biggest teams in the country, so it’s impossible to say no,” he said.
“So we just want to come (to the club), to give our best and hopefully I can become a good option for Liverpool in the future.”
– ‘So much potential’ –
Jota has scored 16 goals in his last 67 Premier League appearances and Klopp believes is still not the finished product.
“He’s a player who gives us so many options to use him. He’s 23 years old, still far away from being kind of a finished article, so much potential. He has the speed, he can combine, can defend, can press,” Klopp said.
“It makes it just more unpredictable and gives us real options for different systems because he can play pretty much all three positions up front in a 4-3-3, if we play with four midfielders he can play both wings.
“He has some natural things which we have in our game, like this desire and the greed and the direction.
“He is part of this unbelievable Portuguese generation in the moment, where they have really a lot of obviously quite skilled players.
“He knows it’s a step for him and he can give us things we don’t have — that’s why it’s cool. The space for improvement is not what I like most, but it’s there.”
Former Atletico Madrid forward Jota joined Wolves on loan in their 2017-18 Championship-winning campaign before making a permanent switch in 2018.
While Jota’s departure is a blow for Wolves, they can look forward to the arrival of 18-year-old Dutch defender Ki-Jana Hoever from Liverpool as part of the Jota deal.
“Ki will join us. He’s a young player, a player that I think really has potential, has talent. And it’s up to us to take the best out of him,” Nuno said.