Anthony Knockaert headed wide early on but striker Baldock made no mistake shortly after, guiding Gaetan Bong's cross into the top corner.
Helder Costa came closest to equalising just before the break but his long-range shot was tipped over by Brighton goalkeeper David Stockdale.
Wolves pressed late on with several corners but Brighton held on.
Walter Zenga's Wolves went into the game having won just two of their past nine away league games with only one clean sheet and they conceded what turned out to be the winning goal after only 16 minutes.
Full-back Bong whipped in a pinpoint cross which was headed home by Baldock for his third goal in three games as the Seagulls took control before the break.
Top-scorer Glenn Murray almost doubled Brighton's lead early in the second half but his header was narrowly wide and a minute later Knockaert forced a fine save from Carl Ikeme with a long-range left-footed shot.
Wolves committed men forward late on but, despite a succession of corner kicks in the dying minutes, Albion held on for victory and their eighth clean sheet in 13 games.
Brighton manager Chris Hughton: "It is very timely that Sam is in this form and I am very pleased for him. He's been good for us.
"He may not score too many with his head but he showed a desire to get across the defender.
"He is a team player, works hard for the team and he is at the right place at the right time."
Wolves head coach Walter Zenga: "It was a good game in my opinion but they scored and we didn't. We played at the same level as Brighton.
"We were in the game and there was no difference in the teams. I would prefer to play badly and take the points.
"In the last four games we have only taken one point, but we must believe in our job."
Match ends, Brighton and Hove Albion 1, Wolverhampton Wanderers 0.
Second Half ends, Brighton and Hove Albion 1, Wolverhampton Wanderers 0.
Attempt missed. Ivan Cavaleiro (Wolverhampton Wanderers) header from a difficult angle on the right misses to the left. Assisted by João Teixeira with a cross following a corner.
Corner,  Wolverhampton Wanderers. Conceded by Lewis Dunk.
Lewis Dunk (Brighton and Hove Albion) is shown the yellow card.
Jón Dadi Bödvarsson (Wolverhampton Wanderers) is shown the yellow card.
Corner,  Wolverhampton Wanderers. Conceded by David Stockdale.
Attempt saved. Hélder Costa (Wolverhampton Wanderers) left footed shot from outside the box is saved in the bottom left corner. Assisted by Danny Batth.
Corner,  Wolverhampton Wanderers. Conceded by Jiri Skalak.
Corner,  Wolverhampton Wanderers. Conceded by Glenn Murray.
Corner,  Wolverhampton Wanderers. Conceded by David Stockdale.
Attempt saved. Danny Batth (Wolverhampton Wanderers) right footed shot from outside the box is saved in the bottom left corner.
Danny Batth (Wolverhampton Wanderers) wins a free kick in the defensive half.
Foul by Glenn Murray (Brighton and Hove Albion).
Attempt saved. Romain Saiss (Wolverhampton Wanderers) left footed shot from outside the box is saved in the bottom left corner.
Substitution, Brighton and Hove Albion. Sébastien Pocognoli replaces Anthony Knockaert.
Corner,  Wolverhampton Wanderers. Conceded by Steve Sidwell.
Hand ball by Anthony Knockaert (Brighton and Hove Albion).
Jón Dadi Bödvarsson (Wolverhampton Wanderers) wins a free kick in the attacking half.
Foul by Oliver Norwood (Brighton and Hove Albion).
Foul by Romain Saiss (Wolverhampton Wanderers).
Connor Goldson (Brighton and Hove Albion) wins a free kick on the right wing.
Attempt saved. Anthony Knockaert (Brighton and Hove Albion) right footed shot from the left side of the box is saved in the bottom left corner. Assisted by Jiri Skalak.
Corner,  Brighton and Hove Albion. Conceded by Danny Batth.
Substitution, Brighton and Hove Albion. Dale Stephens replaces Sam Baldock.
Foul by Ivan Cavaleiro (Wolverhampton Wanderers).
Jiri Skalak (Brighton and Hove Albion) wins a free kick in the defensive half.
Hélder Costa (Wolverhampton Wanderers) wins a free kick on the left wing.
Foul by Connor Goldson (Brighton and Hove Albion).
Substitution, Brighton and Hove Albion. Connor Goldson replaces Bruno because of an injury.
Offside, Wolverhampton Wanderers. Romain Saiss tries a through ball, but Ivan Cavaleiro is caught offside.
Attempt missed. Romain Saiss (Wolverhampton Wanderers) left footed shot from outside the box is high and wide to the left. Assisted by Ivan Cavaleiro.
Attempt missed. Anthony Knockaert (Brighton and Hove Albion) left footed shot from the centre of the box misses to the left. Assisted by Bruno with a cross.
Foul by Romain Saiss (Wolverhampton Wanderers).
Sam Baldock (Brighton and Hove Albion) wins a free kick in the defensive half.
Jón Dadi Bödvarsson (Wolverhampton Wanderers) wins a free kick in the defensive half.
Foul by Steve Sidwell (Brighton and Hove Albion).
Foul by David Edwards (Wolverhampton Wanderers).
Steve Sidwell (Brighton and Hove Albion) wins a free kick in the defensive half.
Substitution, Wolverhampton Wanderers. João Teixeira replaces Nouha Dicko.
Sam Baldock's first-half header proved enough to give in-form Brighton a home victory over Wolverhampton Wanderers.