The Blues saw almost 80% of the ball in their first game under new manager Thomas Tuchel, but struggled to carve through Wolves' five man defence.
Despite the lack of possession it was Wanderers who had the best chance of the game, as Pedro Neto's chip hit the top of the crossbar.
The draw leaves Wolves winless in seven league games, while Chelsea have won just two of their last nine.
Wolves revert to type to produce superb defensive display
After uncharacteristically shipping eight goals in their last three Premier League games, Nuno Espirito Santo shifted his set up from the experimental back four to the tried and trusted 3-4-3.
The Portuguese's intentions were clear from the moment the Wolves lineup was announced. As well as the change in defensive shape, Nuno opted to leave out all three of his available recognised strikers and started with a fluid front three of Adama Traore, Daniel Podence and Pedro Neto.
While the attacking plan didn't come to fruition, the defensive setup certainly did. Chelsea could only muster four shots on target despite having 79% of the ball as Willy Boly, Max Kilman and Conor Coady made block after block to halt the Blues' forward progress.
With Wanderers looking much more comfortable in a three rather than a four, it wouldn't be surprising if Nuno shelves his 4-2-3-1 formation until his squad have had a full pre-season behind them.
Semedo impresses defensively on both flanks
While all of Wolves' back six impressed, it was their record signing who stood out in challenging circumstances.
It's taken Nelson Semedo a long time to settle at Molineux, but the former Barcelona man looked to be another beneficiary of the tactical switch.
After impressing on the right-hand side during the first 45, Semedo's role was switched as Ki-Jana Hoever was introduced at half-time, meaning the Portuguese spent the second period at left-wing back, a role which he hadn't played before.
Nevertheless, Semedo dealt with Christian Pulisic and Hakim Ziyech successfully, and enjoyed probably his finest 90 minutes in a Wolves shirt.
With Rayan Ait-Nouri's injury seemingly leaving Wolves without a recognised left-wing back ahead of Saturday's trip to Selhurst Park, Semedo could find himself in the unfamiliar role again.
Are Wolves now stuck with a safety-first approach?
While most Wolves fans will be happy with the point and a clean sheet, there will be some concern about Nuno's extreme negativity that appears to have become a trademark of their play.
After producing just one shot on target against National League North side Chorley on Friday night, Wanderers went one better at Stamford Bridge as they failed to test Edouard Mendy once. This means that Vitinha's stunning strike at Victory Park is Wolves' only shot on target in their last 225 minutes of football.
Obviously fans are more understanding of a defensive game plan when playing Chelsea rather than Chorley, but Wolves' lack of attacking output in both games will worry both Nuno and fans alike.
Should Wolves struggle to create against a Crystal Palace side they've comfortable beaten twice this season, the warning signs will start to appear.