A combination of a fine rearguard action and an early Kevin Doyle goal was enough to give Wanderers their first win against them in the capital in 36 years.
The visitors defended resolutely throughout, although Spurs lacked a spark and suffered a frustrating afternoon that further damages their hopes of a top four finish.
Doyle broke the deadline in the third minute, glancing in a Nenad Milijas free-kick from the right-hand flank during one of the visitors rare attacks.
Keeper Marcus Hahnemann also did his bit to keep Tottenham at bay.
Spurs immediately started pressing after the early setback and dominated possession for the rest of the match. They could not translate that into clear-cut chances, their best first-half efforts coming from Robbie Keane, who nodded over on 34 minutes and Aaron Lennon, who shot straight at Hahnemann on the stroke of half-time.
The hosts stepped up the tempo in the second period, thanks to the introduction of Luka Modric and Peter Crouch, but they never looked like breaching the well-organised Wolves defence.
Niko Kranjcar scuffed the best chance wide on 76 minutes but Wolves hung on to record their first consecutive top flight wins in 26 years.