Silva has not played for Wolves this season due to a hamstring injury. He has not appeared for the English club since November 2023, after loan spells at Rangers and Las Palmas, where he scored 10 LaLiga goals last season.
Silva, who has one cap for Portugal, may be available for Dortmund's home Bundesliga match against Union Berlin on Sunday. Upon joining the club, he expressed his excitement, saying, "I know Dortmund as a passionate club with incredible fans. Now being a part of the club myself fills me with pride and great anticipation."
Dortmund has been active in the transfer window after securing the last Champions League spot on the final day of last season. The club has signed Jobe Bellingham from Sunderland, Carney Chukwuemeka and Aaron Anselmino from Chelsea, and Manchester City wing-back Yan Couto on a permanent deal.
Silva joined Wolves from Porto in 2020 for a record fee of 40 million euros at the age of 18. However, he struggled to adapt, scoring just five goals in 72 appearances. He also had loan spells at Anderlecht and PSV Eindhoven.
Dortmund's transfer activity has been notable this summer, with the signing of several players from top European leagues.