Jimenez joined Wolves from Portuguese giants Benfica in the summer transfer window on a season-long loan deal.
According to The Express & Star, the Wanderers - who won automatic promotion from the Championship to the Premier League at the end of last season - have an option to secure the services of the forward for a transfer fee of £30 million next summer.
The Mexico international forward has revealed that Liverpool became his Premier League team when he watched him get the better of AC Milan in the final of the Champions League back in 2005, and he has also praised Reds legend Steven Gerrard, who is now in charge of Rangers in the Scottish Premiership.
Jimenez told The Sun: “I will never forget Liverpool’s victory against Milan. That match was incredible. Liverpool became my Premier League team after that. Steven Gerrard was outstanding.
“What it taught me is that English teams play until the last second. They never give up. They always look to score the next goal — and then they defend the goal they have scored with their lives. But these days I am a Wolves fan of course!”
Good signing for Wolverhampton Wanderers
Jimenez struggled to make an impact at Atletico Madrid, but the 27-year-old did well during his time at Benfica.
The Mexico international will be aiming to hit the ground running at Wolves, and should be looking to score at least 10 to 15 goals in the Premier League this season.