Kenny Miller's first-half strike was cancelled out by Mounir El Hamdaoui whose goal earned Derby a point.
Miller struck in the sixth minute when he raced clear of the Derby defence before stabbing the ball home.
Derby made the perfect start to the second half when Seth Johnson's shot eventually fell to El Hamdaoui who rattled the ball past Michael Oakes.
Wolves had chances of their own to retake the lead, notably when a Carl Cort header was cleared off the line.
Wolverhampton: Oakes, Naylor, Lescott, Gyepes, Edwards,
Anderton (Clarke 83), Kennedy, Davies, Miller, Cort,
Seol (Ganea 61).
Subs Not Used: Postma, Craddock, Cameron.
Goals: Miller 6.
Derby: Poole, Whittingham, Nyatanga, Michael Johnson, Kenna,
Smith, Seth Johnson, Idiakez, Bisgaard (Tudgay 74),
Peschisolido (Johnnie Jackson 61), El Hamdaoui (John 61).
Subs Not Used: Camp, Doyle.
Goals: El Hamdaoui 46.
Ref: M Thorpe (Suffolk).