O'Hara was in the stands to watch Wolves' FA Cup tie against Stoke after undergoing a medical and the completion of his temporary switch to Molineux was announced shortly after the game.
The 24-year-old had a spell on loan at Portsmouth last season but has not featured at first-team level at White Hart Lane this season because of a back injury.
The former England Under-21 international has featured in two recent full-scale practice matches with Spurs and was eager to go out on loan again in order to regain full match fitness.
West Ham were also interested in signing O'Hara but Mick McCarthy has won the battle to secure his services.
Source: PA
Source: PA