Beto headed Everton in front from Grealish’s flick after seven minutes before Wolves forward Hwang Hee-chan levelled in the 21st minute.
Iliman Ndiaye restored Everton’s advantage in the 33rd minute, applying the finishing touch to a flowing move involving on-loan Manchester City winger Grealish and Kiernan Dewsbury-Hall.
Dewsbury-Hall bagged Everton’s third, blasting home from Grealish’s pass in the 55th minute before Rodrigo Gomes reduced the deficit in the 79th minute.
Sunderland staged an impressive fightback to beat Brentford 2-1 at the Stadium of Light.