Tevez joined Dimitar Berbatov at the head of the Premier League goalscoring charts with a second-half double to take his tally to 14, accompanying Kolo and Yaya Toure on the scoresheet as two brothers achieved the rare feat of finding the net in the same top-flight game.
City went behind when Kolo Toure blasted a clearance into Vincent Kompany, the rebound dropping kindly for Nenad Milijas who finished at the second attempt despite Joe Hart's initial heroics.
But as half-time approached Kolo Toure levelled and, just after the break Tevez burst past Christophe Berra and Stephen Hunt to slot
Dzeko then sent Yaya Toure clean through with a perfect through ball to add number three and Tevez headed the fourth in off the underside of the crossbar.
Wolves had pulled one back when Kevin Doyle got to his feet to score from the spot after he had been bundled over by substitute Joleon Lescott, and Ronald Zubar added another to set up a frantic ending, which would have been sickening for City had Geoffrey Mujangi Bia's stoppage-time shot deflected into the net off Vincent Kompany rather than just wide.