The 25-year-old will remain at The Valley until the end of the season in order to rack up some minutes following a 15-month injury layoff.
Zyro, who moved to Molineux from Legia Warsaw in 2016, has managed just two appearances for Wolves this season, neither of which were full games.
Charlton manager Karl Robinson told his club's official website: "Michal is tall, athletic, has range in his movement and will offer something that we have not got. He can play up top in a one, or alongside Josh Magennis in a two, and he is very hungry to show what he can do.
"He can play with his back to goal and, having spoken to him, he wanted to come to a club that are striving to achieve success come the end of the season."
Zyro has become the Addicks' second signing of the window so far.