In the 77th minute, Michael Keane scored the victor with a header converting Andre Gomes' teasing cross from the left.
With 13 minutes from time, Michael Keane headed in a cross from Andre Gomes to give Everton the lead and eventually the three points.
Iwobi's only other league goal for Everton was on September 2019 against the same opponents.More news: Photos of free school meal packages in the United Kingdom spark outrage online
Digne was played in something of a more advanced position for the Toffees against the Midlands outfit as Ben Godfrey took up the Frenchman's usual spot at left-back, allowing the ex-PSG man to push on as a more attacking option. All the back four were fantastic.
They have won just once in eight league games since Jimenez fractured his skull at Arsenal in November.More news: Inside Chadwick Boseman's Wife Moving Speech About The Late Actor
Iwobi struck first after six minutes when his cool first-time finish rounded off a fine move which ended when Digne cut back James' pass.
Neves' free-kick then clipped the bar with five minutes to go but Wolves could not find a leveller.
"We played the game that we had planned. With an important player like Dominic, we have to be able to replace him in a different way", added Ancelotti. "Soon we will be better".More news: Dan Quinn agrees on deal to become Cowboys defensive coordinator