The Midlands club were already assured of promotion from England's third tier and will now go up as title-winners after second-placed Brentford were held to a 2-2 draw by MK Dons later in the day.
Richard Stearman and Bakary Sako gave Kenny Jackett's men a two-goal lead against Orient and James Henry added a late third after Dean Cox had pulled one back for the hosts.
Wolves now have 99 points with two games still to play, while Brentford are eight behind on 91 after falling victim to a comeback from MK Dons.
Stephen Gleeson and Izale McLeod scored late on for the Dons, the latter in stoppage time, after already promoted Brentford had moved clear through James Tarkowski and Clayton Donaldson.
At the other end of the table, there was misery for Stevenage, whose relegation was confirmed with a 3-1 home defeat against Bristol City.
Second-bottom Shrewsbury Town look set to join Stevenage in League Two next season following a 5-2 defeat to Preston North End in which Paul Gallagher scored a second-half hat-trick.
Shrewsbury are six points adrift of safety with two games left, while Carlisle United have three points to make up on the sides immediately above the drop zone after a 4-1 loss at play-off hopefuls Peterborough United.
Notts County remain in the bottom four, but beat Crawley Town 1-0 to move to within a point of Crewe and Colchester United, who drew 0-0 at Gresty Road.
Tranmere Rovers are alongside Crewe and Colchester on 47 points as a result of their goalless game with Sheffield United.
Swindon Town kept their slim play-off hopes alive by beating Bradford City 1-0 to stay four points behind sixth-placed Peterborough.
Elsewhere, 10-man Rotherham United, who were already guaranteed a play-off place, beat Port Vale 1-0, Walsall drew 1-1 with Gillingham and there were no goals in the clash between Oldham Athletic and Coventry City, with the latter two sides still not mathematically safe.
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