The 21-year-old, who enjoyed a loan spell at Wolves toward the end of last season, arrived at the club for a fee in the region of £300,000 from Wigan Athletic a fortnight ago.
Dicko leads the West Midlands outfit in attack today, with Kevin Doyle and Leigh Griffiths dropping to the bench. Elsewhere, Jack Price starts his first game since December due to a knee injury, while Aaron McCarey continues to deputise for the injured Carl Ikeme between the sticks.
Meanwhile, City boss Steve Cotterill has named two changes to his side from the 2-2 draw with MK Dons last time out, with Derrick Williams and Marvin Elliot coming in for Scott Wagstaff and Marlon Pack respectively.
Wolverhampton Wanderers: McCarey; Ricketts, Batth, Stearman, Golbourne; Price, McDonald, Evans, Henry Jacobs; Dicko
Bristol City: Parish; El-Abd, Flint, Williams; Osborne, Gillett, Reid, Elliott, Cunningham; Emmanuel-Thomas, Baldock