The move will include an option, not on obligation, for the Premier League side to move Jose permanently for £22 million in the summer
The Wanderers have been on the look-out for a striker after Raul Jimenez's terrible head injury in November.
Since the Mexican has been out injured, Fabio Silva has managed only two goals in nine Premier League games, whilst Patrick Cutrone is yet to find the net since his return from his loan spell at Fiorentina.
Jose, who is 29-years-old, has scored over 50 La Liga goals for Sociedad after joining Txuri-urdinak in July 2016 from Las Palmas.
However, after the emergence of Alexander Isak at the club, Jose has only started eight of the 18 La Liga games this season, with Imanol Alguacil persisting with a 4-3-3.
Jose's career so far
Born in Porto Valvo, Brazil, Willian José da Silva started his career at local side CRB (Clube de Regatas Brasil) before joining Grêmio Barueri at the age of 17.
He netted six times for Barueri before joining Sao Paulo, Gremio and Santos on loan. In 2014, the striker moved abroad for the first time in his career, with a six-month stint at Real Madrid, where he made one appearance in a 2-0 defeat at Celta Vigo.
After a season in the second division of Spanish football with Zaragoza, Jose was signed by Las Palmas for a season in La Liga before moving to Sociedad in 2016. His highest scoring season came in the 2017/18 campaign, where he netted 15 goals in 34 league appearances.
So far this season, Jose has netted three league goals and one UEFA Europa League goal.
How will he fit in for Nuno's side?
The calls for a new striker to come through the door at Molineux has been ongoing since Jimenez's injury. Despite the slight improvement in Silva's performances and the return of Cutrone, either have solved the issue in attack for Nuno Espirito Santo's side.
Both strikers offer different elements to the game. Silva likes to play off the shoulder of the last defender and Cutrone is more of a target man, both attributes that fail to replace Jimenez's outstanding qualities.
Looking at the goals Jose has scored in his time in Spain, there are rassemblements of Jimenez in the shape of his finishing, physicality, heading and off-the-ball movement. Of course, becoming comfortable in a new country with being his first hurdle in England, but with the delivery of Adama Traore and Pedro Neto, Jose has the service to drive Wolves up the Premier League table.
What the arrival of Jose will do to the future of Cutrone? Only Wolves know, but you would expect all three will be available for selection in the unfortunate case that one suffer an injury.