Wolves have made an official complaint to Walsall and the Football Association, alleging Carl Ikeme and George Elokobi were racially abused during their League One win on Saturday.
The club said in a statement Ikeme and Elokobi reported that the abuse came from behind the goal in the second-half and during the first 45 when Elokobi a substitute, was warming up.
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Wolves added the complaint "relates to a small number of individuals and will not sour the good relationship that exists between the two clubs."
Wolves won 3-0 in the midlands derby to move to the League One summit