The talented 17-year-old was seen as someone that Patrick Vieira’s side would secure in the coming weeks.
Strasbourg are part of the Chelsea ownership umbrella, with the Stamford Bridge side eager on young Brazilian talent.
However, Wolves have sealed a deal to secure the talented teenager this summer.
A press release read: “Sport Club do Recife announces that it has signed a binding agreement to transfer the economic and federative rights of athlete Pedro Lima to Wolverhampton Wanderers, from England.
“The agreement is subject to customary conditions, including the athlete’s approval of medical examinations conducted by the English club.
“President Yuri Romao and the football management committee will detail the operation in a statement when all acts related to the business have been completed.”